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How Liberty Reverse Mortgage Works Secrets Discovered

Many people wish to know the secret of how reverse mortgage loan Oklahoma works to remove financial burden on them since years ago. “A big load has been lifted off the shoulders. Especially for the retiree who had to work to make ends meet because they had a house payment. Now, not having a house payment is a huge relief for them.” In line with liberty reverse mortgage, reverse mortgages are a great way for senior citizens to be bit of extra cash out of the equity in their houses. A reverse mortgage lets homeowners 62 years and older and convert part of the equity in their homes into tax-free cash without having to sell the home, give up title, or take on a new monthly mortgage payment. Rather than making monthly payments to a lender as with a regular mortgage, a lender makes payments to the homeowner, either monthly or as a lump sum. A reverse mortgage is a superb selection for seniors who are on fixed incomes and stressed for cash, who have unpredicted expenditures, or who want to take pleasure in retirement life with a little additional spending cash. “Also, a good use is the purchase of long-term care insurance or to pay for in-home care,” says loans and mortgage experts. “Also, if the house is in need of some repairs to last to the end of their life or they have some high-cost debt that needs paid off.”  (Feb 7, 2013 | post #1)

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How does a reverse mortgage work

How does a reverse mortgage work ???  (Jan 3, 2013 | post #1)

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Mortgage

What is a reversible mortgage ?  (Dec 20, 2012 | post #1)

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financial instruments

A document (such as a check, draft, bond, share, bill of exchange, futures or options contract) that has a monetary value or represents a legally enforceable (binding) agreement between two or more parties regarding a right to payment of money. See also debt instrument, equity instrument, and financing instrument.  (Dec 7, 2012 | post #25)

Financial Services

Lawsuits allege OneWest bank can profit from foreclosures

A spate of recently filed lawsuits allege OneWest Bank is systematically hiking loan payments for struggling home loan borrowers and pushing them into foreclosure. Sacramento attorney Peter Macaluso said the Pasadena-based bank is doing it because it can make more money that way than by keeping borrowers in their homes. He has filed eight lawsuits in the Eastern District of U.S. Bankruptcy Court against OneWest on behalf of borrowers and said a ninth action will be filed later this week. "I see this as a business practice," he said of OneWest's actions. "I think this is a command decision by very smart people who used to run IndyMac and are maximizing shareholder wealth." OneWest officials through a public relations agency declined to comment. A call to Chief Executive Officer Terry Laughlin's cell phone was not returned. OneWest's investors acquired failed Pasadena-based mortgage lender IndyMac from the Federal Deposit Insurance Corp. in March 2009 and rechristened the bank OneWest. As part of the transaction, OneWest entered into a shared-loss agreement with the FDIC. The federal agency agreed to absorb some of the losses from OneWest's loan portfolio, but only after the bank shoulders the first $2.5 billion in losses.  (Nov 30, 2012 | post #17)

Financial Services

Former Border Trust bank branches rebranded to new owner ...

Bar Harbor Bank & Trust locations officially open Monday in central Maine, replacing bank branches that had previously been owned by Augusta-based Border Trust Co. The Border Trust locations in Augusta, South China and Topsham are switching to the Bar Harbor company, expanding that bank's locations to 15, according to a press release. The affected locations are at 227 Water St., Augusta; 368 Route 3, South China; and 2 Main St., Topsham. In May, Bar Harbor Bankshares said it had agreed to acquire Border Trust Co. Border Trust, founded in 1969 and based in Augusta, had about $46.9 million in assets, $41.1 million in deposits and $37.2 million in loans as of March 31. In comparison, Bar Harbor had $1.22 billion in assets and $724.4 million in deposits. Bar Harbor Bankshares, founded in 1887 and headquartered on Mount Desert Island, has said it will offer permanent positions to as many Border Trust employees as possible. Any employee who cannot get a permanent job will get a severance package based on years of service and continued benefits and access to outplacement services. The number of employees with each company was not disclosed.  (Nov 29, 2012 | post #2)

Financial Services

Lawsuit Alleges Illegal Debt Collection Practices By Nort...

New York Attorney General Andrew Cuomo filed a lawsuit against a New York lawyer who allegedly allowed a debt collection agency to use the lawyer’s name in order to intimidate and threaten consumers with bogus legal action. According to the lawsuit, John P. Nicolia was paid $141,000 by Eastern Asset Management debt collection agency, so that Eastern Asset Management could use his and his law firm’s name – without ever doing any actual legal work for the debt collector. In a statement issued on Thursday, Cuomo said, “The lawsuit alleges that this attorney knowingly allowed a debt collection firm to use his name to threaten, intimidate, and harass consumers, while he sat back and profited without having to do any actual work. Our investigation into illegal debt collection practices has uncovered layer upon layer of abusive acts, and we will continue to root out the bad players in this industry.” Both the federal Fair Debt Collection Practices Act and New York debt collection and consumer protection laws prohibit debt collection agencies from posing as an attorney or threatening legal action that cannot be taken. Cuomo’s suit alleges that Eastern Asset Management’s debt collectors told consumers they were calling from the Law Offices of John Nicolia and sent “settlement” letters to consumers saying that “…our legal counsel, John Nicolia, Esq. may review the status of your particular case at anytime.  (Nov 28, 2012 | post #315)

Financial Services

Florida AG and lawmakers commit $260M bank settlement to ...

Most of those funds were allocated by banks directly to affected borrowers, such as for modifications and direct payments. Yet, $334 million was set aside for Florida to decide how to use. Initially, $34 million of that was committed to the state’s general revenue fund. After meeting with Florida Senate President-designat e Don Gaetz (R-Niceville) and Florida House Speaker-designate Will Weatherford (R-Wesley Chapel), Bondi agreed that another $40 million would go to general revenue. The rest of the money will help homeowners. Bondi said $60 million will be used for down payment assistance, foreclosure-relate d legal assistance, improving case flow in state courts and enforcement efforts by her office. Another $200 million will be used for foreclosure prevention, neighborhood revitalization, affordable housing, home buyer or renter assistance, legal assistance, counseling and other housing-related programs.  (Nov 27, 2012 | post #4)

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financial instruments

A financial instrument is a tradable asset of any kind; either cash, evidence of an ownership interest in an entity, or a contractual right to receive or deliver cash or another financial instrument. According to IAS 32 and 39, it is defined as "any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.  (Nov 25, 2012 | post #22)

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Share Trading Experience with FBS

People very well know that savings accounts and government bonds provide very low interest rates compared to other investment means like mutual funds and private company fixed deposits. Still many prefer some of the former options because of the security quotient. Greater the interest rate, greater is the risk involved. And share markets are capable of providing very high rates. An experienced professional trader can make millions in share trade while at the same time one may also lose billions. In stock trading, for one person to win, someone else has to lose. So it boils down to a simple clash of wit and acumen. In addition to this, every trade also drains resource in the form of commissions and trading fee. One must bear in mind that at the end of a trading season, there are both winners and losers. In fact, factual data says that only 10% of the total number of traders are actually lucrative at the end of the trading season.  (Nov 23, 2012 | post #44)

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Share Trading Experience with FBS

Before you make a trade, make sure it meets ALL the criteria of your trading plan... otherwise, you WON'T be committing to taking only "A" trades. Anything other than A trades will kill you. I have about 20 more points you need to take into consideration,but please chew on the above three in the meantime. You know how to read a chart. You know how to place your orders. You may even have a proven trading plan that you know that if you followed it, would make you money. You actually are VERY close to being ready to take advantage of an upcoming MEGA trading scenario... the recovery of the US and world economies.  (Nov 22, 2012 | post #42)

Financial Services

310 loan reviews

loans generally refer to a loan secured by residential property, often for the purpose of acquiring the residence. Mortgage loans may be lower priced than other forms of borrowing because the value of the property reduces risk for the lender.  (Nov 21, 2012 | post #2)

Financial Services

Occupy The Federal Reserve

The Occupy Wall Street crowd has become predictably focused on issues like taxing the middle class and moderately “rich,” ending capitalism and even re-electing Obama to ‘fight’ the very elites who pushed him into power. Focus should instead be on the real source of power for the out-of-control bankster class- the private, unaccountable Federal Reserve bank that creates money out of thin air, issues secret loans to insiders and foreign governments and systematically institutes debt on the American people through their undue powers.  (Nov 21, 2012 | post #21)

Financial Services

FATCA Deadline Extended For Australian Financial Institutes

In an announcement yesterday, the IRS confirmed that it would update the proposed FATCA Treasury Regulations released on 8 February 2012 (Regulations) to incorporate a number of changes, which should greatly assist Australian financial institutions in their FATCA preparation and compliance. Withholding Of real significance, one of the key withholding dates has been extended by two years. FATCA withholding may now only be deducted from payments of gross proceeds in respect of sales or dispositions of property within the scope of the regime that occur after 31 December 2016. Unfortunately the IRS did not extend the dates for the other FATCA withholding obligations. Consequently, FATCA withholding may still be deducted from payments of US source FDAP income paid after 31 December 2013, and in respect of "foreign pass-thru payments" made after 31 December 2016. Due diligence and reporting The IRS has brought the due diligence and reporting dates in the proposed Regulations into line with the requirements of the draft model intergovernmental agreement (IGA) released on 26 July 2012 (for more information about the IGA click here). For participating foreign financial institutions (FFIs), the new dates by which FFIs must have completed FATCA due diligence obligations in respect of their account holders are as follows: For new account holders (both individual and entity accounts), by the later of 1 January 2014 or the effective date of the relevant agreement between the FFI and the IRS (FFI Effective Date). The IRS has confirmed that the FFI Effective Date for FFI agreements entered into in 2013 will be 1 January 2014. For pre-existing accounts (being accounts maintained by the FFI prior to the later of 1 January 2014 or the FFI Effective Date): Entities that are “prima facie FFIs” under the Regulations: By the later of 30 June 2014 or 6 months after the FFI Effective Date Entities other than “prima facie FFIs”: By the later of 31 December 2015 or two years after the FFI Effective Date Individuals (other than “high value accounts” (i.e. account balances or values of more than USD1 million)): By the later of 31 December 2015 or two years after the FFI Effective Date Individuals (“high value accounts”): 31 December 2014 or one year after the FFI Effective Date The date for filing reports with the IRS in respect of a participating FFI’s US accounts has also moved in line with the IGA, such that reports in respect of US accounts maintained during the 2013 and 2014 calendar years must now be filed by 31 March 2015. Australian financial institutions have been in a position of uncertainty in respect of FATCA since the government announced its intention to negotiate an IGA with the US, given the different requirements set out in the Regulations and the IGA. These changes should assist Australian financial institutions in continuing to prepare for the FATCA due diligence requirements, irrespective of whether or not an IGA is negotiated. For further details about the impact of an Australian IGA, see our submission. The changes should also assist financial institutions with offshore branches or affiliates that wish to adopt uniform account opening and due diligence procedures across their groups. Concessional grandfathering changes In addition, the IRS has clarified the scope of grandfathering under FATCA. Grandfathering will now also apply to obligations that may give rise to “foreign pass-thru payments” that are executed prior to the issue of the final Regulations that define such term. Further, an obligation to make payments in respect of collateral posted pursuant to a grandfathered derivatives transaction will also be grandfathered.  (Nov 18, 2012 | post #3)

Financial Services

Share Trading Experience with FBS

FBS won the “Best Forex Broker Asia” at the World Finance Foreign Exchange Awards 2012. Being awarded as the Best Broker in Asia is a very special recognition for FBS. Our team always strives to provide professional and high quality services to ensure that our clients receive excellent trading conditions, personalized Customer Service and widest choice of promotions and offers.  (Nov 16, 2012 | post #38)

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