club2_final

This is a guide for people who have to deal with the problems of everyday life and that's everybody. It provides them with information on their health, their finances, their options, their family, and more. Every day we face decisions and we all need information. This guide provides that information!

How to get the child support that's owed you - What's the first step to take if you think that diamond ring you bought isn't really a diamond? What should you do if someone steals your identity and uses your credit cards? Should you consider a second mortgage to pay off debts or take a vacation? Are generic drugs as good as the original drug? Are you and your spouse too old to have children? Can you really save money with those low-cost prescription plans? How threatening are sexually transmitted diseases at your age? Should you take hormones when you become pre-menopausal? What can you do after you retire to keep from getting bored? What about plastic surgery? Your debts are getting out of hand...should you consider bankruptcy?

Plus information on...How To Make Out A Will - Help For Arthritis Sufferers - Helping Your Overweight Child - Is Your Child a Discipline Problem? 55 Ways To Start Saving Money - Planning For Retirement - How To Plan A Safe Vacation - How To Get a GED Diploma - Buying Your First Home With A Low Down Payment and more!

Here are some of the subjects in the book. We can others based on what the publisher feels should be included:

Aging and Hormones; Aids, Women, and Men; lternative Medicines; Alzheimers; Arthritis Cures;

Audits (IRS); Avoiding Credit Card Fraud; Bankruptcy; Buying A New Car; Buying A Used Car; Buying A Home; Cancer Tests; Charity - Who Should Get What? Child Behavior; Child Support; Cholesterol Reducing; Choosing and Using Credit Cards; Credit...When It Gets Out of Hand; Complaining, How To; Computer Buying; Contracts; Co-Signing; Cosmetics; Depression; Diabetes; Diet; Doctors, Questions To Ask; Domestic Abuse; Donating Blood; Eating and Fat; Emergency Response Services; Eyes; Feet; Flu; Flying Safe; Food Labels, How To Read Them; Food Storage; Franchises

Fraud; Fraudulent Health Claims; Funerals; Gas Savers - Do They Really Work? Generic Drugs

Getting Credit When You're Already in Debt; Gold and Platinum Credit Cards; Hair Loss; Health Spas; Hearing Aids; Heart Disease and Food; High Blood Pressure; High Interest Rates; Home Equity Credit; Home Financing; Home Improvements; Home Safety; Identity Theft; Impotence;

Infomercials; Insurance; Inventions; Investing; Jewelry; Job Hunting; Lotteries; Lawn Service Layaway; Life After Divorce; Losing Weight; Magazine Subscriptions; Medicine Taking; Memory

Mutual Funds; Nursing Homes and Your Parents; Nutrition; Parents and Adult Children; Living Together; Pension Plans...Is It Time To Start One? Pharmacies; Phone Scams; Phone Cards ; Prizes, Winning; Prostate Problems; Refinancing; Renting A Car; Retirement Tips...It's Never Too Early;

Scams; Seafood Safety; Second Careers; Second Mortgages; Secured Credit Cards; Sex and the Married Couple; Shopping at Home; Spinal Curve; Sued; Timeshares; Tires; Tools; Travel Fraud;

Vacationing; Varicose Veins; Vehicle Repossession; Viagra; Vision Correcting; Water Testing

Weight Lose ; Working At Home

Part II - The Source Directory - Names, addresses, telephone numbers (many toll-free) and web

sites of information sources

Sample Chapter - How To Buy A Home With A Low Down Payment

If you're dreaming of buying a home, congratulations. You're in good company! Almost two-thirds of the nation's households own their own home and, one way or the other, they figured out how to do it, many with only a small down payment. Homeownership remains one of the highest goals for many people because of its many benefits. Along with owning your own home comes a sense of security and belonging that cannot be found elsewhere. For many, homeownership represents personal and financial success. A home is a valued investment which can have many financial advantages and tax benefits. The money you put into a home is like a saving account. After a few years of payments, you have equity that has value. If you sell the home, you get all of that money back and if you sell it for more than you paid, you earned a profit. The amount of interest you pay on a home loan and the real estate taxes you pay on your home are among the few major federal tax deductions. Lots of advantages.

Still, for many Americans, owning a home continues to remain just slightly out of reach. For more and more families, saving the money for a down payment is the biggest obstacle to homeownership. Many people mistakenly believe that you have to come up with a down payment equal to 20% of the price of a home. Traditionally, lenders have required that home buyers be able to make a down payment of at least 20% of a home's purchase price to get a home loan or mortgage. But many mortgage lenders will grant home loans to qualifying home buyers with a down payment of as little as 3 to 5 percent of the purchase price, if the mortgage is insured. In fact, home loans with down payments of less than 20% are increasingly popular. They are called "low down payment mortgages." and this is good news for millions of home buyers.

Mortgage insurance protects the mortgage lender against financial loss if you stop making mortgage payments. When you fail to make the mortgage payments, a default occurs and the home goes into foreclosure. The mortgage insurer will then have to pay the lender's claim on the defaulted loan.

Although the cost of the mortgage insurance is paid by the home buyer, or borrower, the mortgage insurer works directly with the lender. Mortgage insurance is available to commercial banks, mortgage bankers, and savings & loans, and all of which offer mortgage loans to home buyers. The three primary investors in home loans are Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and Government National Mortgage Association (GNMA). By purchasing and selling residential mortgages, Fannie Mae and Freddie Mac help keep money available for homes across the country. Unlike Fannie Mae and Freddie Mac, Ginnie Mae does not actually buy the mortgages. It adds the guarantee of the full faith and credit of the U.S. Government to mortgage securities issued by private lenders.

Low down payment mortgages can be insured in two ways - through the government or through the private sector. Mortgages backed by the government are insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA) or the Farmers Home Administration (FmHA). The minimum down payment required by FHA is less than 3% which means you can buy a $80,000 home for only $2,400 down, a $50,000 home for only $1,500 down. Although anyone can apply for FHA insurance, the other two government mortgage guarantee programs are much more targeted. The VA program is limited to qualified, eligible veterans and reservists.

The FmHA insures loans for the construction and purchase of homes in rural communities.

This program is very specialized, so the first step is to contact the lender (usually the bank) for details. Obtaining conventional financing is the alternative to obtaining a home loan backed by the government. Conventional mortgages are all home loans not guaranteed by the government, including those guaranteed by private mortgage insurers.

Under this program, you have to make a down payment of at least 5 percent of a home's value to be considered for private mortgage insurance. The down payment requirement drops to 3 percent for special affordable housing programs geared toward first-time, lower-income buyers and you may fall into that category. Private mortgage insurance is available on a wide variety of home loans and there is no pre-set limit on the loan amount. With the wide variety of loans available, you have the freedom to choose the type of loan that best suits your needs. Early on in the home buying process, it is a good idea to meet with several lenders to compare the types of mortgages they offer and shop for the best price and terms. Best of all, working with a mortgage insurer can be very easy because your lender handles all of the arrangements.

To be considered for a low down payment loan, you generally need to have enough money to support the monthly mortgage payment, cover the down payment and closing costs and a good credit background. The house must, of course, be worth at least the purchase price.

The bottom line is: can you afford to buy the home you're interested in? There are two basic formulas commonly used by lenders to determine how much of a mortgage you can reasonably afford. These formulas are called qualifying ratios because they estimate the amount of money you should spend on mortgage payments in relation to your income and other expenses.

Generally speaking, to qualify for conventional loans, housing expenses should not exceed 26% to 28% of your gross monthly income. For FHA loans, the ratio is 29% of gross monthly income. Monthly housing costs include the mortgage principal, interest, taxes and insurance, often abbreviated PITI. For example, if your annual income is $30,000, your gross monthly income is $2,500, and $2500 x 28% = $700. So you would probably qualify for a conventional home loan that requires monthly payments of $700. Any expenses that extend 11 months or more into the future are termed long-term debt, such as a car loan. Total monthly costs, including PITI and all other long-term debt, should equal no greater than 33% to 36% of your gross monthly income for conventional loans. Using the same example, $2,500 x 36% = $900. So the total of your monthly housing expenses plus any long-term debts each month cannot exceed $900. For FHA the ratio is 41%.

There are few restrictions regarding the type of home you may buy with a low down payment loan. In addition, low down payment loans may be used with the wide variety of mortgages. If you're like most people, a home is the single largest purchase you will ever make. It is important that you select a home that will meet your family's needs and keep you happy for years to come.

The loan approval process generally begins with an initial interview where you - the prospective home buyer - and the lender meet to discuss the potential loan. You will need to bring information to verify your income and long-term debts. It's a good idea to meet with the lender before house hunting to determine in advance what price range you can realistically afford and the mortgage amount for which you can qualify. This step is called pre-qualification and can save you a lot of time and trouble by making certain you are looking in the correct price range. Check with the lender to find out what paperwork you should bring along for your first meeting.

After the initial meeting with the lender, you should have a general idea if you qualify for the size and type of loan you want. The lender should let you know if you qualify for the loan in 30 to 60 days. In attempting to approve home buyers for the type and amount of mortgage they want, lenders basically look at two key factors: your ability and willingness to repay the loan. Ability to repay the mortgage is verified by your current employment and total income. The willingness to repay closely related to how you have fulfilled previous financial commitments, thus the emphasis on the credit report or rent and utility bills.

More and more borrowers are taking advantage of low down payment mortgages and becoming homeowners with as little as 3 to 5 percent down. For more information on how you can take advantage of the benefits of a low down payment home loan with mortgage insurance, contact your local lender and any of the following:

Mortgage Insurance Companies of America (727 15th Street NW, 12th Floor, Washington DC 20005)

Department of Veterans Affairs for eligible veterans (800-827-1000)

Office of Insured Single Family Housing

Programs & Procedures Branch (451 7th Street, S.W., Room 9276, Washington, DC 20410

202-708-2676)

The Farmers Home Administration (contact your local/county office listed in the government pages of your telephone book).

Sample Chapter: Do You Have A Will?

The end of your life is something you probably don't want to think about, but just imagine what might happen to your family and loved ones and your assets and personal possessions if you should suddenly die without will. Thinking about what will happen is important and could be your main reason for preparing a will....now! It's a simple process and, in fact, you could go home right now, write your will longhand,on a piece of paper have it witnessed and it will probably be recognized by the courts. .

A will is a legal document designating the transfer of your property and assets after you die. Usually, wills can be written by any person over the age of 18 who is mentally capable, commonly stated as "being of sound mind and memory." Your state may impose additional requirements, so you might want to check with a local legal aid group (they provide answers free and they're in the phone book). .

Although wills are simple to create, about half of all Americans die without one and without a will to indicate who you want to have what and what you want done with everything you own, the courts could step in and distribute your property according to the laws of your state. If you're separated from your spouse and not getting along, they will probably get all or some of your money and other assets. If nothing else, you don't want them to hit the jackpot, especially if you have children or other people you'd want to have something. If you want your best friend to have your watch, your church to get a contribution, or have your pet canary taken care of, you'll have to put that in writing in the form of a will. . .

Having a will is especially important if you have young children because it gives you the opportunity to designate a guardian for them in the event of your death. Without a will, the court will appoint a guardian for your children. If you have no heirs and die without a will, there's a good chance the state may claim your estate and they'll decide what to do with your assets and your church and your friend won't be on that list. .

The basic elements of a will are:

*Your name and place of residence

*A brief description of your assets

*Names of spouse, children and other beneficiaries, such as charities or friends

*Alternate beneficiaries, in the event a beneficiary dies before you do

*Specific gifts, such as a watch or a residence

*Establishment of trusts, if desired

*Cancellation of debts owed to you, if desired

*Name of an executor to manage the estate

*Name of a guardian for minor children

*Name of an alternative guardian, in the event your first choice is unable or unwilling to act

*Your signature

*Witnesses' signatures

Two of the most important items included in your will are naming a guardian for minor children and naming an executor.

In most cases, a surviving parent assumes the role of sole guardian. However, it's important to name a guardian for minor children in your will in case neither you nor your spouse is able and willing to act. The guardian you choose should be over 18 and willing to assume the responsibility. Talk to the person ahead of time about what you are asking. You can name a couple as co-guardians, but that may not be advisable. It's always possible the guardians may choose to go their separate ways at some later date, and, if so, a custody battle could ensue. If you do not name a guardian to care for your children, a judge will appoint one, and it may not be someone you would have chosen.

An executor is the person who oversees the distribution of your assets in accordance with your wishes. Most people choose their spouse, an adult child, a relative, a friend, a trust company or an attorney to fulfill this duty. You should expect your estate to pay an independent executor for this service. If no executor is named in a will, a probate judge will appoint one. Probate refers to the legal procedure for the orderly distribution of property in a person's estate. The executor files the will in probate court, where a judge decides if the will is valid. If it is found to be valid, assets are distributed according to the will. If the will is found to be invalid, assets are distributed in accordance with state laws. Responsibilities usually undertaken by an executor include:

*Paying valid creditors

*Paying taxes

*Notifying Social Security and other agencies and companies of the death

*Canceling credit cards, magazine subscriptions, etc.

*Distributing assets according to the will

Preparing a Will

Start by organizing what you need: outline your objectives, inventory your assets, estimate your outstanding debts and prepare a list of family members and other beneficiaries. Use this information to carefully consider how you want to distribute your assets. Ask yourself lots of

questions: Is it important to pass my property to my heirs in the most tax-efficient manner? Do I need to establish a trust to provide for my spouse or other beneficiaries? How much money will my grandchild need for college? Do I need to provide for a child who has a disability? Taking inventory of the assets may be the key to making a will. Assets should be mentioned in your will. Any items not specifically mentioned may be addressed in a catchall clause of your will called a residuary clause, which generally states, "I give the remainder of my estate to ..." Without this clause, items not specifically mentioned will be distributed in accordance with state law.

Outstanding debts usually will be paid by your estate before your beneficiaries receive their shares.

States require that you sign the will in front of witnesses-the number of witnesses varies by state. A witness should not be a beneficiary under the will. Only one copy should be signed.

Updating a Will

You'll probably need to update your will several times during the course of your life. For example, a change in marital status, the birth of a child or a move to a new state should all prompt a review of your will. You can update your will by amending it by way of a codicil or by drawing up a new one. Generally, people choose to issue a new will that supersedes the old document. Be sure to sign the new will and have it witnessed, then destroy the old one.

Estate Taxes

The property included in your will may be subject to taxation. In planning your will, take into account the following: Federal estate taxes will generally be due if the net taxable estate is worth more than $650,000. (This amount, currently $650, 000, is scheduled to gradually increase from 1999 through 2006 so that it will eventually shield $1,000,000 in gifts or estate transfers from tax per taxpayer.)

*State death or inheritance taxes

*Federal income taxes

*State income taxes

Where to Keep Your Will

Once your will is written, store it in a safe place that is accessible to others after your death. You can keep it in your safe deposit box, but be aware that some states will seal your safe deposit box upon your death, so this may not always be the safest place to store your will. Make sure a close friend or relative knows where to find your will. If you had an attorney prepare your will, have him or her retain a copy with a note stating where the original can be found.