21.2.06
A better security bet
From : Kristin Arnold • Bankrate.com Reports of security breaches, hackers and phishing scams have consumers running scared about online financial transactions. However, a study released in January 2006 by Javelin Research and Strategy shows that Internet-related fraud problems are actually less severe, less costly and less prevalent than previously thought. According to the study, identity theft victims who detected the crime by monitoring their accounts online lost only about $551, compared with an average of $4,543 when the theft was detected from paper statements. The difference is that the longer it goes on before you detect the fraud, the more it will cost you, and you're likely to discover it faster if you monitor your accounts online. Online banking has grown steadily since first being introduced to consumers in the 1990s. More than 53 million Americans currently make some type of monetary transaction online, according to a study performed by Pew Internet & American Life Project, an organization that tracks the social impact of the Internet. According to both the Javelin and Pew reports, growth in online banking is built on two trends. The first is that Internet users are gaining more experience and, therefore, are more likely to participate in activities like online purchases and travel reservations. Betty Reiss, senior vice president of media relations for Bank of America, says that when Internet banking was first introduced in 1995, banking customers made baby steps in their initial online banking attempt. "Our customers traditionally started to bank online to look at transactions and move money between accounts. The next step was paying bills online. Once people tried paying bills online, they saw that it was easier and more convenient." The second trend is that banks are more aggressively offering online banking as an option for their customers, and they are offering it for free. "Online bill pay from Bank of America has been a free feature for our customers since 2002," Reiss says. Reiss says Bank of America, which has the largest online-banking customer base in the United States, made bill pay free based on an 18-month analysis comparing online-bill-pay customers to offline customers. She says that over time, online-bill-pay customers had wider relationships and more loans with Bank of America, and stayed with the bank longer. Still, even though banks have tried to make online banking attractive, some consumers refuse to take that route because of security fears. But despite the series of recent security breaches, most bank-related crimes remain old-fashioned. The Javelin study indicates that the most common source of misused information is a lost or stolen wallet, checkbook or credit card. More than 68 percent of ID theft and fraud occurred from offline means, compared to just 11.6 percent from online. Paper statements from your bank, credit card offers and insurance claims also can be potential time bombs if someone, even your family member or friend, get ahold of them. The Javelin study pointed out that in 26 percent of all cases of ID theft and fraud, the victim knew the person who had misused his or her personal information. Bruce Cundiff, a researcher for Javelin Strategy and Research, says consumers reluctant to bank online face a greater threat of ID theft and fraud because they leave a paper trail that is easily accessed by thieves, family members and friends, which then gives them direct access to their important financial information. Cundiff says, "Online banking gives consumers the ability to eliminate the physical statements, taking away the ability to get your information through that physical record." |
Dangers of debt consolidation
It sounds tempting to consumers in debt: Take out one big loan to consolidate various balances into one, easier-to-handle and less-costly package But be careful of what looks to be a quick fix. "You're getting symptomatic relief, not a credit cure," says Chris Viale, president of Cambridge Credit Corp., a nonprofit credit counseling agency based in Agawam, Mass. This fighting-fire-with-fire approach can take several forms. There are debt-consolidation loans, balance transfers to a zero-percent credit card and home equity loans or lines of credit. But, says Viale, 70 percent of Americans who take out a home equity loan or other type of loan to pay off credit cards end up with the same (if not higher) debt load within two years. Viale's statistics underscore a major problem with debt consolidation: It feeds upon the tendencies that got you in trouble in the first place. By taking on yet another creditor, you're adding the proverbial fuel to the fire. In this case, it's your money that's burning. Plus, if you've taken on so much debt that you're looking for more as a solution, chances are you won't qualify for the very low interest rates you see advertised. Those generally go to people with stellar credit ratings. However, if you're at the end of your credit rope or swear that this time you'll be more disciplined, debt consolidation may be something to consider despite its risks. Here are some popular forms of debt consolidation, how they work and a look at their pros and cons. |
8 ways to consolidate debt
If you find yourself continually worrying about debt -- it's time to seek out some solutions. Greg Pahl, co-author of "The Unofficial Guide to Beating Debt," and Virginia Morris, co-author of "The Wall Street Journal Guide to Understanding Money & Investing," offer these suggestions on consolidating your debt. 1. Credit card transfers. Rate surfing only makes sense if you can pay off your outstanding debt within the time frame of the low introductory rate. "By the time you do all the transferring, the introductory period is over," Pahl says. "I get this stuff in the mail a lot. You really have to read it carefully. The change of a word or two can change the whole thrust of the promotion." To look for the credit cards with the lowest rates, use Bankrate.com's credit card search engine. 2. Home equity loans. They're inexpensive, relatively easy to obtain and they may offer a tax deduction for the interest portion of the loan. The downside is that the collateral for the loan is the house. "A home equity loan can be an extremely useful strategy if it's used properly," Pahl says, "but people need to have their eyes open and understand the implications." The other disadvantage is the low-pressure repayment terms. "Most lenders aren't in a hurry for you to pay it back. The leisurely repayment schedule isn't part of your goal," he says. "Your new monthly payment should be at least as large as your previous monthly payments -- if you want to really make progress. If you can pay more, you should, because you'll pay it off faster." Bankrate.com's home equity search engine lets you find the lowest rates for variable-rate home equity lines of credit and fixed-rate home equity loans. 3. Retirement funds. Most employers will allow loans from a 401(k) or other retirement plan, but this should only be used if you have no other choice. The interest is almost never tax-deductible, but you're paying interest to yourself instead of a bank, Pahl says. If you can't pay it back within five years, the IRS will assess taxes and penalties. Also, if you quit your job, your employer will call the loan in full when you leave. Accessing retirement funds does offer a way of lowering your payments and speeding up the debt repayment process. 4. Life insurance. If you have whole life insurance, you can borrow against its value. There's no time limit and, Pahl says, "You don't really have to pay it back at all. If you don't pay it back, the amount of the loan is deducted from the benefits paid to your beneficiaries, so you probably want to pay it back." Articels From : www.bankrate.com |
Watch out for bad-loan signals
Johnny Bell had a new deck and other home improvements in mind when he refinanced his home in Oxford, Miss., last summer. Make that almost refinanced. Bell spotted attractive terms on a television ad, contacted the lender and locked in a cash-out refi at 5.125 percent with $350 upfront as a processing fee toward a 45-day closing. Then trouble began. First, the company delayed the closing, saying it was behind on the paperwork. Then it asked for proof of reserve funds and Bell complied. After 90 days, the company informed Bell that his "locked" rate had gone up to 6.2 percent. "I got angry," Bell recalls. "I told them I was definitely not paying more interest. They started making excuses for why it had taken so long, putting the blame on Fannie Mae for requiring the reserves. But the interest rate didn't have anything to do with the reserves." After two more months of futile telephone calls, Bell walked away from the deal, received his $350 back and built his deck out of pocket. "It was bait and switch," he said. "It took me five months to not refinance." articels from : www.bankrate.com |
Benchmark Lending
Benchmark Lending Group is a direct mortgage lender, enabling you to quickly secure a new home mortgage or refinance your existing one. Offering a broad range of mortgages ensures that we provide you with a solution that is specifically tailored to your needs. Our mission is to earn your trust, meet your financial goals and provide an outstanding customer experience. And guess what, we´re nice people too. For over a decade, Benchmark Lending has been helping home buyers and owners realize their dreams. As a primary lending institution, Benchmark is uniquely positioned to assist both refinancing and new mortgage customers. We take the time to understand you and your financial goals. We tailor loans that take into account your cash flow, payment timeframe, equity plans and investment opportunities. You will get a loan that won’t break your budget and provides you the flexibility and resources to get the most out of your property investments. Our loan process is in one word easy, easy to understand, easy to complete and most of all easy to manage, because we handle all the hard work. Your personal Loan Officer will manage the application process, work with you through any and all credit issues and help ensure that every I is dotted and every T is crossed. They will carefully explain every detail of your mortgage so there are no surprises on your monthly bill. Our sole aim is to make the experience of financing a new or existing home absolutely painless. We will guarantee that you have a loan tailored to your specific financial needs. |
19.2.06
Website Payments Pro: Solution Overview (USA Only)
Get the features of a merchant account and gateway, plus much more—at a lower cost. Website Payments Pro is:
|
Houston Crimonal Lawyer
|
Wireless Pointing Mouse From JW Tech
JW Tech recently presented a very cool pointing mouse that could be really handy during multimedia class or presentations. It features both a wireless trackball mouse that takes advantage of the radio frequency technology, as well as laser pointing function. You can freely use it while moving around within 20m radius. To avoid the signal being jammed, 5 different frequencies are provided. One of the most unique feature is the receiver itself. Check out the picture below and you'd see that the receiver device is a wired 5-button optical mouse. So, instead of one, you'd get two functional mice in a bundle.  
|
Manoi The Humanoi Robot
Toymaker Kyosho has come up with a robot that can be assembled easily even by those with limited knowledge of robots. Named "Manoi", this robot is capable of walking on two feet and kicking a soccer ball. It has a one-fitfh the scale of human body. That's around 40 cm tall. If this small robot designed by Tomotaka Takahashi already able to kick soccer ball, someday we might even play soccer with a robotic team. Cool or scary? Anyway, Kyosho is also planning to host the Athletic Humanoid Cup several times a year with such events as the 5-meter sprint. The first competition is planned for August 2006.
|
