The question

I have a student loan that is in deferrment from 2007 and I have applied for financial aid, but because I have to use both my parents’ and my in rank, I can’t get financial aid. So I was wanting to know if I can call my loan company and see if there is any way I can use that deffered loan for my expenses in the fall of 2011, when my deferrment isn’t over until January 1, 2012?

The question

What am I supposed to do if by the time I can afford a Porsche, gas prices will be too high that I can’t afford to even drive it? I will be graduating with my Masters degree in 2013. (No student loans or debt). I’ll get a job as a high school history/political science teacher. After putting money aside for about two years, I will be able to afford a used Porsche for about $ 35,000-$ 40,000. But if the price for a gallon of gas reaches $ 9 or $ 10, how will I be able to afford it? It seems the “granola heads” are pushing for electric cars and hybrid cars (none of which would come with a stick shift!) What then? Are the gasoline engine sports cars a thing of the past? The world is circling the drain, let me tell you!

The question

wondering whether or not I should transfer Universities? I go to Florida Atlantic university , FAU, (a college in Boca Raton, FL filled with students who commute back and fourth). I graduated high school in 2009, and I don’t like going here because I can’t have the normal college experience.

My parents are strict and I have absolutely no socialize life. I didn’t have a social life in high school either. I see kids in my classes and around campus and I just feel so different because I never had the same social experiences. As long as I’m living around my parents I can’t socialize with people –going to parties, or even going out for lunch or to watch a movie.

I chose to go to FAU because of financial reasons. Tutition is free for me at all state schools because I have a erudition from the state, but my parents can’t support me if I transfer (rent, food, transportation, living expenses, etc.).

Right now I have a really high GPA. Im majoring in history and taking science pre-reqs to apply to Med school, Podiatry school, and PA school after I get my bachelors degree. If I stay at FAU, I can end my science pre-reqs and history major by Summer 2012 (meaning, I would have completed my bachelor’s degree in 3 years…although I will be able to end my degree by summer, I won’t be able to start med school, podiatry school, PA school until the next year in Fall 2013 anyways because I would still have to take the MCAT and/or GRE). So, even if I stay down here, I’ll graduate early, but will still have to wait a year before I can go away to graduate school.

So, im thinking about transferring to UCF (University of Central Florida) or UF (University of Florida) to end my undergrad. But,that would mean I would graduate in Spring 2013, with the regular 4 years of college, and I could have the summer off, and start my graduate program in the Fall. But I would have to take out federal loans tto support me while im away.

So, should I stay at FAU? Or transfer to UCF/UF?

The question

I saved up 50k to payoff my line of credit but not sure if i should just keep the money in the bank and refinance. I was offered a 20 year fixed at 3.875% closing cost will be about 1k. the payment will be small more but im fine with that, i pay an additional 200 into the principle on my mortgage now. This is my current mortgage now

Account Overview as of 01/08/2012
Loan type and term:
30 Years Square fixed
Original principal balance:
$ 308,000.00
Contractual remaining term:
25 years, 1 month
Interest rate:5.75%
Current principal balance:
$ 281,468.03

then I have a line of credit that i owe 52k. the rate is 4.25% I have to 185$ of interest every month minimum. The reason i have this line of credit,was to payoff a 2nd mortgage i had at 8.8%. should i just payoff the line of credit and keep paying the additional 200 into my principle on the 1st mortgage?? or should i save the 50k in the bank and refinance? or I could payoff the line of credit and still refinance??
If you reckon you can get me a better deal, then please email me!!!(TONY45POWER) this is loan will be longisland NY.
thanks

The question

8% Debenture issued 1 Jan 2010, Value of loan = £50,000,000
£4,000,000 Loan interest is currently in the profit and loss (Statement of C Income)

The business will repay the loan in 2012 at a premium over its current carrying value, the premium on redemption means that the loan carries an effective rate of interest of 10%.

How do I account for this in my profit and loss and balance sheet?

Thanks in advance.
I reckon the question is simpler than that, but i appreciate the working done.
The carrying value of the loan is £50 million, interest paid is £4 million is included in profit and loss.
The debenture was received on Jan 2010.
The business will repay the loan in 2012 at a premium over its current carrying value, the premium on redemption means that the loan carries an effective rate of interest of 10%.

There is no mention of discounts. Surely if a business pays a loan back quicker, the lender would expect a premium due to the fact they’re losing a potential interest payments for further years.

I suspected that I’d have to either –
1) change nominal rate from 8% to 10% and therefore the loan interest has to be increased from £4 million to £5 million.

2) Or add 10% premium to the carrying value of the loan therefore its increased to £55 million and an 8% annual payment is made which is £4.4 million, so I’d increase loan interest by £400,000.

Those are my predictions a

The question

I had taken education loan from Credila of Rs.6 lakh last year on which I am paying interest only since June, 2010. This will continue till June, 2012. After that, I will have to repay EMIs including principal and interest.I have not claimed any IT relief so far. Please advise what documents are required by me for getting tax relief for 2010-11 and 2011-12 from Credila and whether these are required to be submitted to IT Department direct or to my offce. What are other supplies? Also, can I get tax relief for payment of interest during 2010-11, and if so, what is to be done.

The question

here is a list of what Obama has done manypeople don’t know he has done anything

Arts and Culture
Funded the National Endowment for the Arts (NEA) at the highest level since 1992. ref, ref, ref, ref
Made an artist corps for public schools. ref
Championed the importance of arts education. ref
Promoted cultural diplomacy. ref

Banking and Financial Reform
The Credit Card Answerability, Dependability and Disclosure Act. ref, ref
Managed the Troubled Asset Relief Plot (TARP) ref; (Banks have repaid 75%, bringing the cost down to $ 89B.) ref
Played a lead role in G-20 Summit, which produced a $ 1.1 trillion deal to combat the global financial crisis. ref
The Restoring American Financial Stability Act of 2010. ref, ref
The Fraud Enforcement and Recovery Act. ref, ref
Customary the National Commission on Fiscal Dependability and Reform. ref1,
Closed offshore tax safe havens, tax credit loopholes. ref, ref, ref
Reformed Deferral Rules to curb tax advantages for investing overseas. ref
Everlastingly extended Research and Experimentation Tax Credit for domestic funds. ref
Customary new Off-shore investment policy, which promotes in-sourcing. ref, ref
Reformed credit card swipe fees (via Amendment to H.R. 4173 – Sec. 1079) ref
New criminal penalties for mortgage fraud. ref
Negotiated deal with Swiss banks to permit US government to gain access to records of tax evaders and criminals. ref
Congress investigated Goldman Sachs for its role in subprime mortgage meltdown. ref
(U.S.) charges Goldman with subprime fraud. ref
(Treasury Department) Sold 1.5 billion shares of Citigroup at a profit. ref
(Pay Czar) Cut salaries for 65 bailout executives. ref
Issued compensation guidelines for bank executive salary and bonuses ref, ref
The largest financial reform law since the Fantastic Depression ref

Civil Rights
This category is still under construction. Many items that will be included in it are already embedded in Humanitarianism, and other overlapping categories.

Commerce, Trade & Communications
Expanded loan programs for small businesses. ref
The Small Business Act and the Small Business Investment Act. ref
The Credit CARD Technical Corrections Act of 2009. ref
Webcaster Settlement Act of 2009. ref
The Satellite Television Extension Act of 2010.ref
Customary a credit card bill of rights. ref
Launched the National Export Initiative, with the goal of doubling US exports by 2015. ref, ref
Appointed the nation’s first Chief Technology Officer. ref
Launched piracy crackdown. ref
Promoted Internet Freedom as Part Of U.S. Foreign Policy. ref, ref, ref
Denied Federal contracts to tax delinquents. ref
(Senate Panel) Passed tougher rules on derivatives. ref
(Democrats) Unveiled Citizens United response bill. ref, ref ^roytoric
Proposed tougher meat industry antitrust rules. ref, ref

Economy, Employment and Labor
The American Recovery and Reinvestment Act of 2009 (ARRA): A $ 789 billion economic stimulus plot. ref
Assigned a Special Inspector General for the Troubled Asset Relief Program Act of 2009 . ref
Unveiled 33 Billion-dollar jobs package. ref, ref
Provided $ 5,000 tax credit for every new worker. ref
Provided a US Auto industry rescue plot. ref, ref
(HHS) Provided New Health IT Workforce Grants (under ARRA). ref
The Credit Card Answerability, Dependability, and Disclosure Act. ref
The Jobs for Main Street Act (2010). ref
Customary President’s Advisory Council on Financial Capability to help in financial education for all Americans. ref, ref, ref
The Worker, Homeownership, and Business Help Act of 2009. ref
Customary FERA. ref
Customary the National Export Initiative ref
A temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958. ref
The American Jobs and Closing Tax Loopholes Act of 2010. ref
Found $ 20 Billion in budget cuts. ref
Made an Advanced Manufacturing Fund to invest in peer-reviewed manufacturing processes. ref
Increased minority access to capital. ref
Customary economic explanation condition tax changes. ref
Provided grants to encourage energy-efficient building codes. ref
Extended and indexed the 2007 Alternative Minimum Tax patch. ref
Made task force to fight deficit. ref
Restored funding to the EEOC and the U.S. Department of Labor’s Office of Federal Contract Compliance Programs. ref
Customary partnerships to share environmental technology with other countries. ref
More than doubled federal spending for research on clean fuels . ref
CBO found 3.7 Million jobs made by stimulus. ref
Raised the small business investment limit to $ 250,000 through the end of 2009. ref
Extended unemployment insurance benefits and temporarily suspend taxes on these benefits. ref ref
Made Haiti Donations Tax Deductible For 2009. ref
Equalized tax breaks with driving to promote public transit. ref
Provided National Export Initiative/Progress report and named Pr

The question

The American citizens get yet another Christmas Present. Our dumb as a rock Congress has voted to allow unlimited funding of Fannie and Freddie Mac through 2012 to weather any financial downturn we may have. Now considering that all of this money printing they are doing is sending us on the road to hyperinflation…and considering the fact that so many people are underwater with their home equity loans and interest rates are going to skyrocket in the future, couldn’t this once again get to be very expensive? At what point can we throw the members of Congress in jail along side Bernie Madoff?
Ed, how convenient of YOU to neglect that a bill for more regulation got through the Senate banking and finance committee in 2004 and Chris Dodd filibustered it. Also, Barney Frank was very vocal in his opposition so please don’t place this on Bush

The question

Is this right or not; please I really need to know and can someone please translate it to Spanish.

Option ‘A’ — Mortgage Modification
If you are currently in default on your home loan, or at risk of defaulting soon, this is the government help program you should look into. Here are the pertinent details.

•Under the mortgage modification plot, homeowners who are falling behind on their payments could have their home loans modified by a lender.
•The goal of modification is to reduce the size of the payments, thus helping the homeowner to avoid foreclosure. This is excellent for the lender and the homeowner alike. The borrower gets to stay in the home, and the lender avoids yet another foreclosure on their books.
•Essentially, this would reduce the monthly payments to about 31% of the homeowners yucky monthly income. This would be accomplished by reducing the interest rate in most cases.
•Payments would remain at this level for a limited period of time, five years in most cases. After that, the rate would gradually increase to the conforming loan rate at the time of modification.
•There’s some incentive built into this government program, for both the homeowner and the lender. People who make their payments on time could qualify for a reduction in their principal balance, up to $ 5,000 over the 5-year modification period. Lenders may also qualify for incentive payments, for each of the loans they successfully modify.
•To qualify for this government program, the unpaid principal of your mortgage (what you currently owe, minus interest) must be less than $ 729,750
•Speculators and investors need not apply. This program is designed for people who live in their homes as a primary residence.
•Eligibility for this part of the mortgage help program will expire in December of 2012.

The question

Interest Rates Have Nowhere to Go but Up
Buzz up! 191 Print
On Sunday April 11, 2010, 1:00 pm EDT
Even as prospects for the American economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates.

That, economists say, is the inevitable outcome of the nation’s ballooning debt and the renewed prospect of inflation as the economy recovers from the depths of the recent recession.

The shift is sure to come as a shock to consumers whose spending habits were shaped by a historic 30-year decline in the cost of borrowing.

“Americans have assumed the roller coaster goes one way,” said Bill Yucky, whose investment firm, Pimco, has taken part in a broad sell-off of government debt, which has pushed up interest rates. “It’s been a fantastic thrill as rates descended, but now we face an extended climb.”

The impact of higher rates is likely to be felt first in the housing market, which has only recently begun to rebound from a deep slump. The rate for a 30-year fixed rate mortgage has risen half a point since December, hitting 5.31 last week, the highest level since last summer.

Along with the sell-off in bonds, the Federal Reserve has halted its emergency $ 1.25 trillion program to buy mortgage debt, placing even more upward pressure on rates.

“Mortgage rates are unlikely to go lower than they are now, and if they go higher, we’re likely to see a reversal of the gains in the housing market,” said Christopher J. Mayer, a professor of finance and economics at Columbia Business School. “It’s a really huge risk.”

Each increase of 1 percentage point in rates adds as much as 19 percent to the total cost of a home, according to Mr. Mayer.

The Mortgage Bankers Friendship expects the rise to continue, with the 30-year mortgage rate going to 5.5 percent by late summer and as high as 6 percent by the end of the year.

Another area in which higher rates are likely to affect consumers is credit card use. And last week, the Federal Reserve reported that the average interest rate on credit cards reached 14.26 percent in February, the highest since 2001. That is up from 12.03 percent when rates bottomed in the fourth quarter of 2008 — a jump that amounts to about $ 200 a year in additional interest payments for the typical American household.

With losses from credit card defaults rising and with capital to back credit cards harder to come by, issuers are likely to increase rates to 16 or 17 percent by the fall, according to Dennis Moroney, a research director at the TowerGroup, a financial research company.

“The banks don’t have a lot of pricing options,” Mr. Moroney said. “They’re targeting people who carry a balance from month to month.”

Similarly, many car loans have already become significantly more expensive, with rates at auto finance companies rising to 4.72 percent in February from 3.26 percent in December, according to the Federal Reserve.

Washington, too, is expecting to have to pay more to borrow the money it needs for programs. The Office of Management and Budget expects the rate on the benchmark 10-year United States Treasury note to remain close to 3.9 percent for the rest of the year, but then rise to 4.5 percent in 2011 and 5 percent in 2012.

The run-up in rates is quickening as investors steer more of their money away from bonds and as Washington unplugs the economic life support programs that kept rates low through the financial crisis. Mortgage rates and car loans are linked to the yield on long-term bonds.

Besides the inflation fears set off by the strengthening economy, Mr. Yucky said he was also wary of Treasury bonds because he feared the burgeoning supply of new debt issued to finance the government’s huge budget deficits would overwhelm demand, driving interest rates higher.

Nine months ago, United States government debt accounted for half of the assets in Mr. Yucky’s flagship fund, Pimco Total Return. That has shrunk to 30 percent now — the lowest ever in the fund’s 23-year history — as Mr. Yucky has sold American bonds in favor of debt from Europe, above all Germany, as well as from developing countries like Brazil.

Last week, the yield on the benchmark 10-year Treasury note briefly crossed the expressively vital threshold of 4 percent, as the Treasury auctioned off $ 82 billion in new debt. That is nearly twice as much as the government paid in the fall of 2008, when investors sought out ultrasafe assets like Treasury securities after the collapse of Lehman Brothers and the beginning of the credit crisis.

Though still very low by historical standards, the rise of bond yields since then is reversing a decline that started in 1981, when 10-year note yields reached nearly 16 percent.

From that peak, steadily dropping interest rates have fed a three-decade lending boom, during which American consumers borrowed more and more but managed to hold down the part of their income devoted to payin