Home Equity Loan vs. 401(K) Loan — Which Should You Choose

Home Equity Loan vs. 401(K) LoanYou’ve finally decided to add that patio you’ve always wanted to your home. Now you can enjoy barbecue outdoors and get a little fresh air every now and again. But how are you going to pay for it? If you’re like most people, you don’t have cash for home repairs just lying around the house. You’ll have to borrow. So where should you go to borrow? Mortgage rates are low these days, so a home equity loan would be pretty affordable, as would a home equity line of credit (HELOC) if you have a number of remodeling projects in mind.Then it occurs to you — “What about my 401(K) money? I can get good terms on a 401(K) loan and borrow the money from myself!” That seems like a good idea. You can borrow the money from yourself and pay yourself back with interest! What could be better than that?.On the surface, borrowing from your retirement savings may seem like a better idea than taking out a home equity loan. The terms are good either way, and the interest rates are probably comparable. So, why not borrow from your 401(K) account?.There are several reasons why it may not be desirable to borrow from your retirement account:.Most Americans fail to save enough for retirement, so borrowing from your retirement fund may leave you short later should you default. No one wants to be broke when they retire.
If you have a diversified 401(K) account, you will probably be earning interest on your retirement money. In fact, the interest rate you are earning on your retirement fund may exceed the interest rate you would pay for a home equity loan. In that case, you take out a home equity loan, leave the retirement money where it is, and you should earn a net gain between the two.
If your retirement fund is earning good interest, and in the late 1990’s many were earning upwards of 20% per year, then borrowing on your principal could hurt you tremendously in the long run. Due to the nature of compounding, the amount you lose by borrowing from your retirement account could be far more than simply the sum of the loan amount plus interest.
The interest on a home equity loan is tax deductible, up to $100,000. The interest on a 401(K) loan is not.There are certainly some circumstances where you might benefit from borrowing from retirement funds instead of taking out a second mortgage, but those situations are fairly rare. A substantially higher interest rate on the home equity loan than the 401(K) loan would be one such example. If in doubt, you should consult with a financial planner.

What are the different phases of SDLC and methodology?

SDLC concept of software design a wide range of software development methods. These methods provide a framework for planning and overseeing the development of information: the development of the software life cycle process development.OverviewSystems (SDLC) is a logical process by the analyst, information systems, including requirements, validation, training and user (stakeholders) property uses. Each SDLC must meet the high quality and exceed customer expectations in order to ensure timely implementation and cost, it works effectively on existing and planned infrastructure, technology, information and to obtain cheap profitable.Computer and strengthen systems are complex and often (especially in recent growth of service-oriented architecture), the different systems, possibly from different vendors, links to download the software. By creating a complex, many models of systems lifecycle management (SDLC). “I synchronized, and stabilize,” “Waterfall,” “Source”, “spiral”, “construction and repair, rapid prototyping,” progressive [Edit] SDLC models to describe the flexibility of the repetitive sequences. Agile methods like Scrum and XP, the process of change in light-quickly concentrate along the development cycle. iterative as the Rational Unified Process and dynamic approach to systems development, which limits the scope of the project and other construction and modernization of many repetitions. The project suite (BDUF) models, such as waterfalls, a focused approach to comprehensive planning and correcting serious hazards and the work of a positive and predictable. Some advocates of an iterative and agile SDLC confused at the end of next steps, or “traditional”, but the CCES is a general term for all methods, which enable the design, construction and project management of the project software.In the project life cycle (PLC ) and the SDLC in the activities should be defined a little differently. According to Taylor (2004) “Life cycle of the project, including all of the project, which focuses on the overall development of the system to the needs of the systems development life cycle product.HistoryThe (SDLC) is the type of methodology used to build information systems to describe, to gather information about the systems very well thought out, methodical and structured to enhance the life cycle of life. A number of systems development, Elliott & Strachan and Radford (2004) created “in 1960 to a system to develop management capabilities for large corporations. Operating systems via the data processing and calculations of concentrated heavy routines.Several the most important development is partly based on SDLC as a structural analysis and design method (SSADM) products on the Office of Government Commerce in the United Kingdom in 1980 is based. Because according to Elliott (2004), “corresponds to the traditional systems development life cycle gradually replaced with approaches and frameworks have attempted to solve some of the restrictions SDLC. SDLCSystems development phases of the life cycle of the traditional (SDLC) to the basic channels to must be met for the development, including design, analysis, design and development of major significance, and some still, there are different models of system development life cycle of the old model is the first comprehensive development “model of the waterfall: .Stages, each stage of production contributing to the next. These actions are generally the same methods discussed above all, but many of the different methods at different stages of cascade name and number of steps seems to be between 4-7 September is not the last model of the system development life cycle, but measures can be classified and divided into various phases of the SDLC to ten stages.The to identify the products distributed or changed jobs. The tenth stage, when the system and move into retirement or to other systems. Tasks and results of the individual steps are described in the following chapters. All projects require that the steps are executed sequentially. However, the steps are interdependent. Depending on the size and complexity of the phase of the project may be combined or overlapping .

Obama Mortgage Refinance – How to Qualify For President Obama’s Home Loan Refinancing Program

President Barack Obama took over US economy when it was going through a major slump. In his 2009 Stimulus Package he made an attempt to make the lives of the US people easier and saved their dream homes from being foreclosed. He has announced several grants, tax credits and loans for the needy citizens in United States. He has made an attempt to save your home through refinance and loan modification.Do you Qualify for President Obama’s Home Loan Refinancing Program? Let us have a look:· In case your loan or the mortgage is insured or owned by Fannie Mae & Freddie Mac you qualify for the refinance deal.· Your loan amount must be more than 105% of the current value of the home in order to apply for the mortgage refinance.· Now your rate of interest can be lessened. It would be 5.16% in place of 6.5%.· The mortgage monthly payments would now be limited to 31% of the gross monthly income of the borrower. Also the sum total of all credit payments taken together must not be higher than 55% of the pre tax income of the borrower.· When you apply for the loan modification & refinance even if you do not own 20% equity of the home. This rule is now written off.· The government has announced $ 1000 cash benefit for the banks & the mortgage companies per loan modification & refinance. So the banks are all willing to help you in your crisis.· You can also take professional help from the HUD appointed counselors. They act as your representative in the bank dealings and present your case in the best possible amidst the bankers. Above they do not charge for their work as they are paid by the Federal Government. You must seek for their guidance once.

An Introduction To Los Angeles Criminal Defense Attorneys

Criminal defense attorneys deal with the branch of law that governs an individual’s relationship to the state. The term “”criminal law”” encompasses the rights of an accused and the criminal process, including arrest, arraignment, grand juries, pleas, discovery, pretrial hearings, trials, and jury selection, evidence, motions, and post trial remedies. In order to prove any crime, no matter how serious, the prosecutor must prove that the accused committed a guilty act with a guilty mind beyond a reasonable doubt.Some of the criminal offenses are drugged, juvenile, parole and probation, traffic violations, white-collar crimes and domestic violence. Attorneys deal with the cases of possession, manufacture, distribution, and abuse of controlled substances, such as narcotics, marijuana, and other illegal drugs, and laws against the abuse of prescription drugs. In case of juvenile offenses, attorneys do the following steps intake, consent decree, fitness hearing, adjudicatory hearing, disposition plan, disposition hearing, probation review hearings, and case termination.If one is charged with criminal offense, he might want to hire a lawyer. So the process could start with a thorough online search. Browse through their websites. Checking whether they belong to any reputable association in the area of expertise will increase the level of filtered output. Discuss with people around if they have heard of the lawyer. Wading through the yellow pages can also help. Newspapers can offer a rich collection of available lawyers because of the publishing of the lawyers’ names that will give a deep insight into the relevance of your problem to the one that had happened. Lawyer’s staff’s response is also a must. They should appear courteous and professional in their approach to the problem.

Eligibility and Benefits of Debt Consolidation

Debt consolidation means taking one loan to pay off others. In the recent times we have seen a number of people losing jobs or fearing the risk of losing jobs. Thus imposing financial constraints on one’s day to day life is very important. Proper finance management is very crucial. Debt consolidation is considered one of the ways to mange burdens rather than letting all the loans scattered, with more than one and two or even more repayments to manage monthly.It is common to have a car loan, housing loan, student loan, credit card loan etc all at a single time. Most people do most of their shopping’s using credit card. It is really easier. But all that is easy and comfortable comes with a heavy price! Credit card loans have a huge interest rate that is sometimes even more than an unsecured loan.Banking and financial institutions offer to help these heavily in debt individuals, by taking up their entire debt and merging them to one. Thus you are only liable to a single lender which is of a great psychological relief, than owing many. A debt consolidation management company usually hires a professional, who analyzes the debts and deals with the respective firms to waive off your interest and reduce your outstanding sum. Thus you get a relief of due sum to be paid.There are a few pre-requisites that are necessary to make you eligible for a debt consolidation.1. You have to have a steady income, and must submit proof for the same. Being an employee ensures that you can repay the consolidated loan.
2. Your credit score needs to be good. Someone who has not faulted their repayment wins better trust and a higher chance to be approved for a debt consolidation loan.
3. If you have a working spouse, the credit history of the spouse is also considered.Debt consolidation is especially useful when you have multiple loans causing stress and sleep less nights. Multiple loans mean multiple interests. A debt consolidation loan that you take can be secured or even an unsecured loan. A secured gives you the benefit of having to enjoy a lower interest rate. Though cases of non-secured loan is not very common, you can apply if you have a high income job, and you convince the debt management company that you can manage to pay off this unsecured loan.Before taking any loan, it is always best that you study the pros and cons, and evaluate the benefits, understand the rules and regulations.

Black Friday Top 10 Shopping Tips

With just one week to go until Black Friday, you can be forgiven for getting a little anxious about the start of the holiday shopping season. Don’t worry; we’re here to talk you down. First of all, it’s important to remember that you don’t have to get all or any of your shopping done this Friday. In fact, only 30 percent of those surveyed in a recent CR poll expected to finish their shopping right after Thanksgiving, and forty-five percent expect to take until the second week of December to finish. Still, if you are determined to brave the crowds on Friday, we’re with you, and have a few simple tips to make the day a little less stressful:1. Do your homework to unearth the best deals. Web sites such as Black Friday Ads, and DealTalker reveal advance information about Black Friday circulars and other sales at many stores, and feature downloadable coupons. Another useful site, RetailMeNot, features coupons and discount codes, which entitle shoppers to bonus savings.2. Check to see if you are really getting a bargain. If you find a product in a flyer at a seemingly low price, go online first to determine whether you can get it elsewhere for less. Some sites that compare prices among multiple e-tailers and retailers include PriceGrabber, Shopping.com and DealTime. Amazon.com is worth visiting, too, as our reader surveys have cited Amazon as one of the best places to appliances, electronics, and books at excellent prices.3. Check out the retailer’s Web site. Shoppers can learn if the products they want are stocked and available. Many retailers also offer the opportunity to purchase the item online and pick it up locally. Another plus: Retailers may offer coupons that shoppers can print out and bring with them for extra savings.4. Weigh the risks and rewards of late-night and pre-dawn sales. It’s true, many retailers offer huge discounts, often selling a few attention-grabbing toys or electronic items at or below cost to lure you into the store, where you’ll hopefully purchase other more profitable merchandise. Such products sold as “loss leaders” are typically offered in extremely limited quantities and it’s first-come, first serve. Don’t bother to show up unless you are willing to wait, sometimes for hours before the store opens, and even then there’s no guarantee.5. Don’t assume the best deals are on Black Friday. While it’s too early to tell how deeply retailers will ultimately be forced to cut prices to boost their bottom line and move inventory, it’s clear that many merchants are already reacting to intense competition by slashing prices and dangling bonus discounts. Inducements such as free shipping, delivery, and gift-wrapping are so widespread that they’re rapidly becoming the norm. So it’s not as if you’ll be forced to pay full price if you delay your shopping a bit. If you are intent on getting the cheapest price, ask if the retailer has a guaranteed low-price policy, entitling you to a refund of the difference between the new price and what you paid if the item is available for less within a particular timeframe.6. Shop early in the day. Black Friday shoppers must brace themselves for heavy traffic and packed stores, which means more time on the road and less time to shop. Obviously, you can shop in only one store at a time. So plan on arriving at your favorite ones early, before doors open and people pour in. Early birds also get to choose from the entire range of merchandise before it’s been picked through, which means fewer color, size, and style options.7. Get extra savings through instant charge cards. If you plan a big-ticket acquisition, consider opening up an instant charge card to receive an extra 10 percent off at the point of purchase. Then pay the balance quickly and cut up the card.8. Check return policies. Retailers are becoming stricter when it comes to enforcing return policies. Be sure to ask for gift receipts. If you lack a receipt, be prepared to be issued a gift card or store credit for the lowest price the item actually sold for, not necessarily what you paid for it. You’ll also need your receipt for warranty service. Purchases made during the holidays (usually the months of November and December) may be eligible for extended return or exchange privileges.9. Be mindful of restocking fees. Some site charge as much as 25 percent for returns of opened GPS navigation systems, television sets, camcorders, digital cameras, and other major buys. Items such as computer software, movies, music and video games usually can be exchanged for the identical item but cannot be returned for a refund.10. Guard your privacy and security. Read a Web site’s privacy policy. It might tell you that the site sells customer data, which means your inbox could be stuffed with spam. As for security, when entering personal data, make sure you are on a Web page that triggers a security icon such as a closed padlock on your browser, indicating a secure connection for transmitting sensitive information. You should also use a single dedicated credit card for all online transactions, which will minimize aggravation should you be a victim of identity theft. After you’ve completed your purchase, a receipt will often appear on your final screen. Rather than jotting down the purchase number, print the actual receipt for your records, should any discrepancies occur.

Government Debt Consolidation Loans – Consolidate Your Federal Student Loan Debts

Are your debts becoming too much of a burden for you? Well, your country can help you deal with this crisis in the form of government debt consolidation loans.Although, there are many debt consolidation loans that you can consider to can help pay multiple creditors through a single monthly payment. Your best option still may be the several government backed debt consolidation loans that the federal government offers its citizens due to various reasons.What are Government Debt Consolidation Loans?These loans are made available by the federal government to help you pay multiple loans and creditors using similar principles of debt consolidation like any other private program. The loan allows you to consolidate multiple loans into one. This way you only need to make one single payment each month rather than three or four.As you already know, in most cases the loans are high-interest unsecured ones; therefore converting them in to secured loans is bound to be beneficial for the borrower as it leads to low interest rates. They save you money and make your financial planning and budgeting easier.Debt Consolidation for Federal Student LoansStudents who have multiple federal student loans to fund their educational expenses can benefit from government backed debt consolidation loans. Government backed loans help make repayment of the loans feasible for student or parents – without the hassle of having to deal with multiple loan payments every month.There are many loans offered by the government that are designed to help out students. There are two programs under the Higher Education Act (HEA) which can allow consolidation loans. One program is Direct Consolidation Loan Program and the other is FFEL or Federal Family Education Loan program.In the program, the Direct Consolidation Loan program, the US Department of Education helps students through debt consolidation loans to pay off education loans. After that, a new loan is issued to the student which contains the consolidated amount of all the old loans.In case of the FFEL or Federal Family Education Loan Program, the borrower is provided with a new consolidation loan which can be used to pay off any loan that the student might have and not just educational loans.Government Student Loan Repayment PlansThe government debt consolidation loan programs offer four different plans to the borrower, they are:1. ICR or Income Contingent Repayment plan
2. Extended payment plan
3. Graduated payment plan and
4. Standard planEach plan provides the borrower with different features to meet the requirements of the individual. This provides flexibility which is a key factor in any debt consolidation program.Consolidating your debts can help simplify your repayment process, as all of your existing loans may not have similar payment dates and terms. You pay back different types of loans with the help of one single loan. The amount that you would need to pay every month should be lower and the pay-back may also get stretched to ease the repayment process. At the end of it all, getting a government debt consolidation loan also increases the chances of paying back your loans on time.

Credit Card Debt Consolidation Loan – Banish Dystopia and Find Utopia

Is your credit card debt getting you down and feeling hopeless? A credit card debt consolidation loan may just be the prescription you need. Imagine having only one payment to make each month, and a much smaller payment at that. Imagine saving hundreds if not thousands in interest charges. Imagine feeling calm and relaxed about your monthly finances.I do not know about you, but that sounds wonderful to me!How do you find this utopia? You can find it at your local bank or credit union. You can even find it just a click away right from the privacy of your home on the internet. More and more lenders are turning to the internet to offer their customers easy and fast solutions to their credit card problems.Unsecured Debt Consolidation LoansAn unsecured credit card debt consolidation loan does not need any collateral or security. It is possible to get this type of loan from a bank if you have had a good relationship with the bank for some time. If you do not know your bank very well you can find many good lending programs on line.You need to remember that unsecured loans always have a higher interest rate than secured loans. This is because the lender does not have anything to fall back upon in case you do not or cannot pay back the loan amount. In addition, the amount of unsecured loan that you will be able to get will be lower than what you can get with a secured loan.Home Equity Debt Consolidation LoansHome Equity secured loans are the more common credit card debt consolidation loan available as you put your home up as collateral. This enables the lenders to feel safe in granting you the consolidation loan. The trade-off to you is the interest rate is much lower and may be tax deductible. The amount of loan you will be able to get will often only be limited by the amount of your available equity.Besides being able to eliminate your debt, a credit card debt consolidation loan will give you the opportunity to improve your credit score by making regular monthly payments. You will find that once you have been making monthly payments on time, your credit score will gradually show an upward trend which will make it easier for you to obtain fresh loans in the future.Credit Card CounselingIf you really want to keep smiling and live your life this new found utopia, you may want to consider enrolling in credit card counseling. Credit card debt consolidation counseling will teach you how you can get rid of your debts and more importantly, how to stay out of credit card debt permanently .Do not let credit card problems spoil your life. Let a credit card debt consolidation loan [http://www.credit-cardconsolidation.net] give your relief so you can get on with life.

How Student Loan Forgiveness Programs May Help Reduce Your College Loan Debts

Student loan programs have changed in 2011. Paying off the high cost of college is getting harder and harder. More and more college graduates leave school with an enormous amount of student loan debt.College students are discovering student loan forgiveness programs to help pay off college debt. Performing volunteer work, teaching in certain school districts or within certain areas, or by providing legal and medical services, can now help in paying down your student loan debts by trading the skills you learned while going to college and getting your degree.Students leaving college and entering the work-world after the government has changed how college loans are disbursed still complain of being confronted by overwhelming frustration of having to pay enormous student loan debts and not really knowing how to tackle that debt.But all is not lost. By participating in some of the following loan forgiveness programs open to certain skill sets and occupational fields, you’ll have an opportunity to see the world and help others at the same time.Teachers: Some loans can be cancelled or, as it’s more commonly referred to, “forgiven,” if the college degree leads to or complements a job in the teaching profession. Up to $17,500 of your principal balance might be cancelled.Americorps: This organization is the domestic arm of the Peace Corps, and it offers up to $7,400 in living stipends. Will pay approximately $4,725 in education awards upon completion of one year’s successful service.Nurses: Repayment assistance (not a discharge) is available through the Nursing Education Loan Repayment Program (NELRP) to registered nurses in exchange for service in eligible facilities located in areas experiencing a shortage of nurses.Volunteers in Service to America (VISTA): Volunteer with private, non-profit groups whose mission is to eradicate hunger, homelessness, poverty and illiteracy.Peace Corps: Volunteers that have outstanding Perkins Loans can receive a 15% cancellation on the debt owed for each year of their first two-year service term and a 20% loan cancellation for their third and fourth years of service. Participants can receive up to a 70% cancellation on Perkins loans.Military Service: The Student Loan Repayment Program (SLRP). Under the Student Loan Repayment Program, when you enlist the Army will pay back up to $65,000 in qualified education loans (up to $20,000 for reservists), the Navy up to $65,000 and the Air Force up to $10,000. The military services have unique student loan repayment programs designed to help recruit and retain active duty and reserve personnel, including both officers and enlisted.Legal and medical studies: Studying medicine or law often equals racking up tens of thousands additional dollars of debt. There are law schools which provide loan forgiveness to those students who volunteer to serve in the public interest and/or work for non-profit organizations.We’ve compiled a list of helpful websites and useful links to make your search easier at our website. Look for “Loan Forgiveness Programs” at FindHow2.com.For more information about student debt discharge, contact the Direct Loan Servicing Center at 1-800-848-0979 if you have a Direct Loan. Contact the lender or agency that holds your loan if you have a FFEL. If you borrowed using a Federal Perkins Loan, contact that particular school which made the loan.Yes, college was worth the price, both in time invested studying and borrowing the funds to attend classes. But now the bills have to be repaid. Fortunately, there are options to get your student loans reduced by offering up your skills and time to worthy organizations. You’ll be helping yourself lower the principal of your student loan principal balances and helping others in the process…. a true “win-win” situation.

Home Equity Line Of Credit Or Java Script Mortgage Calculator – A Use Tool!

A home equity line of credit or java script mortgage calculator may help you make a well defined decision if you are seriously considering taking out a mortgage loan and you’re thinking of using your dwelling as collateral. This is because acquiring your own dwelling is the greatest dream of many. Many people work hard to realize this dream. Therefore risking your home as a collateral is something you’d need to be really careful about.Equity lenders and loans are swarming like flies aboard the World Wide Net, offering savings galore. Thousands of homeowners are applying for home mortgage loans to pay off credit cards, school bills, debt consolidation, and even applying to remodel their home. These loans are often flexible, providing homeowners with a means to manage their cash flow. Few loans have lower interest rates than other loans, but even the higher rate loans have something to offer.Some lenders are offering “HELOC,” which is an ongoing credit line, similar to using a credit card. The option provides homeowners with the means to take out credit as needed and repay the debt with interest. According to few lenders, the HELOC bargain has minimal upfront fees, if any fees at all. If the homeowner chooses to pay steeper interest rates on the credit line, then the lender may pay off the fees and costs. Home equity loans differ, since the homeowner is, giving x amount of cash to use for home improvement, paying off credit cards, or other needs. Still, the homeowner is obligated to repay the debt as stipulated by the agreement.With a home equity line of credit or java script mortgage calculator available online you can check out the interest rates and compute the interest rates as against other loan facilities.It may interest you to know that though home equity line of credit or HELOC is available for those who need money and want to use their homes as collateral, every loan facility has its own disadvantages. For example one of the disadvantages of the HELOC loans is that if the rates of interest change, so will the rates change on the loan almost immediately. The home equity offers fixed rate loans that provide a better guarantee to the borrower.Although, based on the initial study and experience of some consumers who have taken advantage of their dwelling as collateral, even without the use of the equity line of credit or java script mortgage calculator, it can be out rightly said that the home equity line of credit may provide the lowest interest rates.But then again, you may need to consider checking out with the java script mortgage calculator because you may find that home equity loan may be better. This is because even with the higher interest rate of the home equity loan as against the home equity line of credit, the payment of home equity loan is regular and you pay the interest and part of the principal loan.Home equity line of credit especially with the help of the home equity line of credit calculator may show you lower interest rates, however, because interest rates of home equity line of credit is variable, there is risk that you will end up paying more in a line of credit.The home equity line of credit or java script mortgage calculator may be useful for the home equity loan other than in the line of credit because in a home equity loan, you pay fix interest and fix monthly payments. The home equity line of credit calculator is useful, thus you may need to check it out first before you decide which facility to use. If you are not a risk taker, you may not want to put your dwelling on the line, other loan facilities may be useful to you. And the home equity line of credit or java script mortgage calculator will definitely be your help!For this reason, you may need to find other information on how to manage you finances including the possibility of taking out loan through home equity line of credit. The internet is a good source of information, and because of the presence of a home equity line of credit or java script mortgage calculator, you will know ahead of time what best route to take to avoid future problems.