Sensex headed for testing 1000 – India plunging into deep depression

The pendulum has swung in the other direction. The bubble burst is not funny. India has just started to plunge into a multi decade deep depression. Most likely India and China will join hands to revive their economy through an Asian free trade zone. But still the effects of the global financial meltdown will hurt every Indian, rich, or poor, native, or expatriate.
Sensex has closed below 9000. It is headed deep in the South below 2000, perhaps 1000. As the American and European financial institutions flee the country selling their assets and taking their dollars and euros with them, the Rupees is plunging forcing the Government to look into devaluation of the currency.
India depression will felt deep into Indian villages. American financial collapse will cause deep pain in every Indian household. It is the Indian politicians that never understood the failure of American neo con policies. They blindly followed the America of George Bush. All that mattered to some Indians were American dollars, outsourcing money and the materialism of the effervescent culture.
Now is the give back time. The exports will collapse. The imports will also collapse. The foreign reserves will stop growing. Massive infrastructure projects will be needed to keep India’s large population employed.

Bad Credit Home Loans And How To Get Loans

Bad credit home loans are a specific type of loan which depends upon your past credit score and your past credit history. Past credit history is important for both borrower and lender, as it contains all your documents such as financial transactions, repayments of previous loans and county court judgments.
If you have a bad remark or late repayment in your past credit history then your application for loan may take time to be approved because your application will be marked as home loans with bad credit history.
In spite of these bad remarks in your credit history, some banks and financial institutions are ready to provide you with a home loan. Here I want to make it clear that these financial institutions will surely charge higher interest rate from you. How much higher depends on your credit history.
The biggest problem in home loan approval is “how to convince a lender to approve your loan application?” Here are some tips, which can be used as guidelines to get the best deal on bad credit refinancing.
Try for the best available in market – conduct a market research on your own. Visit banks and financial institutions of your local area to know their norms, terms and rate of interest for home loans with bad credit history. You should also check if there is someone you know in the bank. A personal contact is very good to have.
Most of the banks have an official website, thus don’t forget to browse official websites of banks providing bad credit home loans. Ask for online quotes. Compare online quotes and quotes from your local market. Choose the best option for you, with the lowest interest rate.
Improve your credit score – Improving your credit score will surely help you in home loan approval. Follow these simple tips to get a better credit score.
If you have any dispute regarding incorrect entries in your account, please visit the official website of your bank and ask them to clear the dispute. Check your entries after each and every money transaction made by you.
Next, keep your credit enquiries down. I am sure that on time payment of current loans will be helpful to improve your credit score. Avoid any late payment. While improving your credit score don’t apply for any credit card, auto loan, education loan or any other type of loan. The interest for these loans are generally higher than a loan on your home.
Save for a down payment – Some financial institutions may be ready to offer you 100% financing even with low interest rates but they can ask you for a down payment up to 10%. Hence, it is in your best interest to cut your daily budget to save as much as possible for a down payment.

Hopefully President Obama Will Break A Few Campaign Promises

Although I did not vote for President Barack Obama, I wish him well and I hope that he is as successful as President Bill Clinton. If Obama governs as a centrist as Bill Clinton did, he should not have any problem getting a second term. But if he chooses to govern to the left, he will have a troublesome and short four years as Jimmy Carter once had.Why John McCain Failed...John McCain failed in his quest for the presidency for a number of reasons, but primarily because he could not or would not explain the underlying problems with Obama's economic policies.Perhaps he could not explain the problems of Obama's campaign promises regarding the economy, because he did not understand them himself. Perhaps the problems simply could not be explained in a sound bite.But I believe that John McCain failed in his quest for the White House, because he would not accept advice from the faithful who were not part of his internal campaign team. Perhaps his people shielded him from outside input.My wife says that the McCain team probably thought of me as a stalker in the wild. I had sent explanations of the problems of Obama's economic plans several times, but it would seem that my help never escaped the email box. ;-)Great presidents of years past were great because they surrounded themselves with really smart people. The measure of a great president - be it Bill Clinton, Ronald Reagan, John F. Kennedy, Franklin D. Roosevelt and others - can be succinctly described by their ability to find and get people who best understood the needs of the nation and how to solve those problems faced by average Americans.In the end, the American people were worried about the economy, and yet, John McCain could not show us why his approach to the economy would be better than Barack Obamas. That is why he lost his bid for the White House.What Is In It For Me?Barack Obama understood something else that John McCain seemingly could not. President-elect Obama understood that people vote on the premise of what is in the deal for them.A tax cut for 95% of Americans and a tax increase for the richest Americans is something that resonated for many people.So long as the tax payer thinks that they will gain more than they lose, they are frequently happy to hear promises of this type.This is where the McCain campaign failed to understand the marketing of a politician. Jumping up and screaming about how the 42% who do not pay taxes now will receive a check from Obama, as if that were a bad thing, alienated the 42% who do not pay taxes. To argue that this was the equivalent of "welfare" was to stomp on the hopes and dreams of 42% of the electorate.To have told the story to the American people in a way that could have swayed the electorate to McCain would have been to explain the underlying economy of Obama's plan. But John McCain could not or would not do so.The rich voted on principles different than the economy, because the rich understand what I am getting ready to show you now.Shifting The Tax Burden To BusinessUnder the basic structure of Obama's tax plan, he is going to eliminate most taxes paid by those who work for a living. On the surface, that seems like an awesome plan. Even I would benefit from lower taxes under Obama's plans.But here is the problem...The Republicans utterly failed to tell us this story, so that most of us could understand the fallacy of this plan.Higher taxes for business will not eliminate jobs directly, as described by the Republican brand! As a business owner, I have a hand's on understanding of this scenario.Businesses will do what is possible to bring the same amount of after-tax profits they have seen previously. Especially when the business is a sole proprietorship like mine, our profits become our incomes. So, if I need $70,000 per year to sustain my lifestyle, I will find ways to increase my business back to the level I need to be at to sustain my standard of living.Taxing my profits only ensures that I must earn more money, so that I can maintain my standard of living. Laying off people is not an acceptable option, because fewer staff will ensure a shrinking ability to earn the money I need to keep my standard of living.Since I am not willing to lower my standard of living and laying off people is not an option, I will have to find other ways to make the difference. The only way that I am going to be able to maintain my business is to increase my prices. And so long as the consumer feels that my products and services are necessities in their lives, my customers will pay the higher prices.How This Affects You...The bakery company will not cut its profits or lay off people; instead, it will increase the price of a loaf of bread.The lumber store will not cut its profits or lay off people; instead, it will increase the cost of lumber.The oil companies will not reduce its profits or lay off people; instead it will increase the cost of gasoline.All in all, the prices of all products and services will increase to reflect the new tax environment.As prices eventually increased to reflect higher fuel prices during the summer of 2008, so will all prices increase to reflect higher business taxes and the increasing prices of all raw materials, due to higher business taxes. Increasing prices for any reason will increase the rate of inflation for everything in the United States.Amazingly, the 42% who did not pay taxes under George Bush will now be paying the new taxes on everything they buy. And you will pay those taxes, because you cannot stop eating or buying goods and services.Whereas 42% of Americans do not pay taxes now, all Americans will soon be paying for Obama's "new taxes on the rich".Maybe that check that Obama will send the 42% who do not pay taxes now will offset the increase in the cost of living - maybe it will not.Will Obama's Economic Policies Reflect A Net-Gain Or A Net-Loss?If the tax cut for the middle-income and the checks for the lower-income families are greater than the increased cost of goods and services, then this plan will be a net-gain for all middle- and lower-income families home finances.If the tax cut fails to add enough money to the budgets of families to offset the increased cost of goods and services, then the American people's personal finances will experience a net-loss.It is all about standard of living. Will you in four years have a better standard of living under Obama's tax cuts? Or, will you find that the increased cost of products and services have eaten away the benefit that you received from Obama under his tax cut for 95% of American taxpayers?In Conclusion...I am not very optimistic about middle- to lower-income families finding a net-gain under Obama's tax plans... But, I hope that I am wrong.Many pundits suggest that Barack Obama will not be able to keep all of his campaign promises, and it is still my hope that in four years we will be able to look back to see that Obama's tax plan was one of the promises that Obama did not keep.About The Author:Arlo Mooney (www.Cash-Advance-Payday-Loans.org)
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How to spend your economic stimulus check

The government wants you to dump it on things you don’t need, or to finance a huge luxury purchase. That’s exactly what you shouldn’t do.
The best thing you can do with the inflated money is to pay down debt. Start with your highest interest account and dump your check on it. There is no reason to carry debt on 10-20% credit cards when you’ve got cash on hand earning 2.5% at your local bank.
If you’re a part of the small minority with little debt, your next great investment would be in your home. Take the $600 and put it towards things like a low energy furnace or air conditioning unit. As the summer months begin, heating units will be fire sale cheap. This is a great chance to get a good deal on a furnace and possibly benefit from a tax rebate by switching to a low energy unit. For the super saver, consider spending some extra money on new faucet heads or compact fluorescent light bulbs. You’ll cut down your water and electricity usage by a serious amount. CFLs use 75% less energy than their bulbous counterparts while providing the same amount of light, not to mention they last longer as well.
Making an extra mortgage payment would be a wise decision, but don’t do it if your rates are low to begin with. After adjusting for taxes (multiply your rate by 1 minus your marginal tax rate) you probably won’t be getting very good returns.
An emergency fund would be the best solution for anyone who doesn’t have loads of debt. The average family will be getting about $1800 this year, an amount that can go pretty far for an emergency fund starter.
There are a million and a half things you could do with the money, but consuming isn’t one of them. Save the cash and keep it for later, there are always times you could use a bit of extra money.

Self Build Mortgages

Even in today’s market place self build mortgages continue to enable the self build enthusiast to gain a healthy return on their time and money when their particular project is finally completed, even with the current trend on falling house prices a properly managed self build project can end up with a healthy return on investment in the end value of the property against the costs taken to get it there.
For any lender to consider a self-build mortgage/project there are three main considerations that need to “stack up”
1 Cost to purchase or initial value of land or plot,
2 Total funds required and when required
3 End value of the project.
These three factors that would be initially be taken into consideration by any lender considering lending funds for any such proposition, quite simply if they do not fit the lenders criteria then they will not fund it no matter how keen the self builder is the project.
A self build mortgage differs (amongst other things) from a more traditional mortgage in that the funds are released in stages generally as the build progresses and reaches certain stages, an important point to make at this early stage is that the lender will be guided by the valuer/surveyor comments on all the stage values and not by the self builders estimates. Hence if a plot of land is purchased for £100,000 but the valuer only deems it to be worth £90,000 then that is the figure that the lender will work from, this would also apply to both the end value and the value of the project through its various stages of build.
A self build mortgage is also different from a traditional mortgage in that you only pay the lender the monthly payment for the particular amount drawn down at a particular time, hence if you have been offered a mortgage for £100,000 but have only drawn down £35,000 then you only pay for borrowing the £35,000 until you draw down more funds.
There are two main ways to fund a self build mortgage the first is the arrears based route which is generally direct to the lender (normally 25% deposit required) or the advanced accelerator system which would be going via a specialist packager, at this initial stage it worth seeking professional advice from a specialist mortgage broker on which way would best suit your particular circumstances.
The main difference between the two types are with the arrears based scheme the funds are released after each building stage is completed where as with the advanced accelerator scheme funds can be released prior to the start of the first stage, as always in life there comes a penalty (in additional charges) for the privilege of the advanced payment system however it can allow for a lower initial deposit. Again before deciding on which system could suit your needs the best speak to a specialist self build mortgage broker particularly one that has access to the whole of market.
Some lenders have bespoke mortgages for their self build clients while others can give access to their normal product range but on a self build basis, as to which one is best depends on the applicants circumstances and possibly the length the mortgage will be required for. A short term self build client may want a slightly higher type of rate but with no financial tie so they can remortgage to a more traditional mortgage when finished, where as a longer term self build client may prefer a lower fixed term rate and be happy being tied in bit controlling their monthly payment
Lenders will vary on the types of project they will lend on hence some will not assist on the initial purchase of the land where others will allow funds for this purpose though it has to be said the more deposit you have the better the choice of lenders. Another area where lenders differ is the type of project as some only lend on a “flat “ plot of land where others will be happy to consider such projects as barn conversions etc. An important point to note is that no lender will release funds (other than for the initial purchase of land) unless full planning permission has been granted.
Another important point to consider is to who is going to manage and sign off each stage of the build, is it going to be architect supervised and what type of certificate will be available for the property at the end of the build, again here different lenders have different criteria so you need to be very clear on what you intend to do and how.
Costing the project and drawing up a schedule of works is both vital for your own finances and will influence the initial decision of the lender as to the viability of the project, some lenders will be happy to consider your own projected costings (subject to valuers approval) where others will require a professional person to have drawn these up. Either way it is vital that a contingency plan is in place to allow for any unforeseen costs such as delayed building times or a rise in the cost of materials.
Most lenders would look for (after the draw down of the first funds) the project to be started within the first year and be finished with two years however they do realise that every project is different so a degree of tolerance can be applied with the main issue being that the mortgage is paid on time.
Obviously most self build mortgages are carried out by applicants who intend to carry out the majority of the work themselves and of course the lenders understand and allow for this, though going back to a previous point you will need to consider what type of certificate you will need at the end of the build, this could be an NHBC or architect supervised build etc this needs to be planned in and run through the whole project and not be an unforeseen panic at the end of the build.
The above points cover the main basics of a self build mortgage and there are of course many other factors to take into careful consideration before embarking on such a project however as stated earlier self build mortgages can prove to be superb investment of both time and money, though again before deciding on any particular way forward it would be prudent to seek the advice of a self build mortgage specialist.

Payday Loan No Faxing: Instant Solution for Your Immediate Worries

When a person initiates his search for a borrowing, he expects to avail one which can fulfil his requirements in the shortest possible period. But the process of credit and the asset checks takes a long time. Under financial emergencies most of the prospective buyers are not in a position to wait till the lengthy procedure is over. So, in order to get quick approval of a small cash borrowing, the most suitable choice is a fast payday loans no faxing.Such instant loans can be utilised to fulfil any urgent need of the loan taker, which requires immediate attention. It is also helpful for people who cannot submit any documents due to some reason. As no documentation is needed for approval of payday loans no faxing, some basic information is required to be submitted online such as proof of age, regular source of income, bank account statement and other small bits of relevant details.With such loans, an amount in the range of ?100-?1500 can be availed for a period of 14-31 days, which has to be repaid by the next payday date. The rate of interest is a bit higher than the other borrowings available in the UK loan market. But still affordable rates can be availed through a proper research online. To get all these benefits and incentives to the maximum limit, online search for no fax payday loans is recommended. As the need is very urgent, these loans must be obtained as early as possible. All this can be easily done by applying online.There are various benefits of availing payday loans no faxing like:• No need of lengthy documents to be submitted through fax• Easiest approval and transfer of finance in just 24 hours• Repayment made very easy with automatic deduction of the amount from the customer's bank account• The loan can be extended over for another term in case the loan-availer fails to pay on the fixed date• Most suitable for bad credit holders as no documents are required to be submittedThese borrowings are a source of great respite for such people who are unable to submit documents. If you are also someone who is facing a similar problem, then go ahead and take payday loans no faxing. Such type of cash really props the economic prospects of the people without getting them involved in any sort of hassle born of documentation and other related procedures. The payday loans help the customers to pay their medical bills, cost of week-end holidaying, electricity bills, helping some friend on a very urgent basis, school fees, shopping, grocery bills, getting your vehicle serviced, credit card bills without the risk of being delayed.It is thus clear that payday loans no faxing are those swift money packages, which help the British citizens to fulfil their immediate money requirements without having to fall in the lengthy documentation process or putting their dignity at stake by requesting the near and dear ones for money.

Refinancing a Sign of Bad Calculation?

Is refinancing a sign of a bad mortgage calculation? When one make an attempt to refinance their mortgage they are making a point to adjust payments on a monthly basis to extend the terms of the payment and lower the monthly amount of the payments.
Refinancing can benefit the homeowner by allowing the home payments to be paid; refinancing can help the homeowner to maintain ownership of the home by avoiding foreclosure. Many times, the choices offered in refinancing are favourable towards the homeowner.
Refinancing a home can be done regardless of the amount that owes on the mortgage. Whether the homeowner has had their mortgage for one year, or for ten years – there are always refinancing offers available. Some mortgages allow for refinancing to occur every five to ten years as part of the clause.
There are many reasons that homeowners may feel the need to refinance their home. Sometimes, an increase in expenses means that home ownership becomes more expensive. This could happen for a variety of reasons; an illness, other medical problems, an increase in expenses or a job loss. Regardless of the reason, circumstances have the ability to change throughout the term of the mortgage.
So, for this reason – just because refinancing is necessary does not mean that the initial mortgage calculations were wrong, it merely means that there has been a change in circumstances. Many people associate refinancing with negative aspects, when really – it benefits the homeowner by maintaining ownership, and benefits the lending institution because the mortgage payments are not going to go into default.
How do you know when it is time to refinance your mortgage or home loan? First, the sign that it is essential to pay attention to the ability of the homeowner to pay the monthly mortgage payment. With the cuts in jobs and the confusing state of the economy – foreclosure is occurring more than ever! Did you know that foreclosure is occurring at higher rates than ever, but many of these foreclosures could have been avoided by contacting the lender to work out alternative payment schedules?
Foreclosure alternatives are counseled by professionals in their field. There are many alternatives to foreclosure: lowering the interest rate on the loan which can decrease the term, extending the loan over a longer period of time – stretching out the payments will decrease the amount of monthly fees due. Other methods of lowering the monthly payments are; creating a grace period for the homeowner, giving the homeowner time to catch up on the past-due payments.
Using these alternatives, including refinancing, means that more people will be able to keep their homes through the foreclosure crisis that is occurring at this very moment in the economy. Are you having troubles with your home and mortgage payments? Perhaps this could be the time to contact your lender to discuss refinancing options – As a responsible owner, you don’t want to risk the chance of losing one of the most important investments that one is going to make in their lifetime – their home!

Distance Education Loans - Get Ready for Education at Your Doorstep

Distance education is more popular than ever today. It allows students to study remotely, without having to attend classes at a university. This allows students from all walks of life to pursue a college education without disrupting their family or work life. While there is no doubt that distance education makes education more accessible to many, students often find that they require distance education loans in order to pay for their remote education. Distance learning education loans are more available than ever before. Students can now turn to a number of sources in order to get the money they need to succeed in school.
Alternative Education LoansAlternative education loans are also known as private education loans. These loans are simply amounts of money lent by private lenders. They may be offered by banks, private companies, or other financial institutions or persons. The loans are attractive to distance education students because they are so flexible. You do not need to be a full-time student, in many cases, to qualify for some form of loan. You often do not need to be a United States citizen in order to apply for such loan. You can also apply this type of education loan to any school you attend.
Bank LoansIf you're looking for online distance education loans, you may wish to seek out traditional loans as well. Traditional lines of credit, credit cards, personal loans, and other types of loans can provide a good alternative to distance education loans. These loans can help you pay off your education, but do not require an extensive application process. As long as your credit is decent, you can get approved with competitive interest rates. Of course, you will need to start repaying your loan right away. However, since many people pursuing distance education work full time as well, this is rarely a problem. An advantage of this type of loan is that it does not leave the student with a large debt after graduation. Plus, since many people pursuing distance education do so one course at a time, it is possible to get out one or two small loans in order to pay for education. In many cases, students find that this is enough.
Employer Education LoansSome employers offer their employees financial assistance in order to go to school. Often, this is because extra education can make an employee more productive and more valuable to the workplace. Some employers are willing to offer private loans, or offer loans based on employers retirement contributions, in order to allow the employee to attend distance education courses.
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