I have heard that these "gifts" and grant monies make home owners inelegible for refinancing and carry "premium pricing" that is not disclosed on the  DPA websites.  I would really like to utilize their services, but I just don't believe that there is anything such as a free lunch.
208379
I am a mortgage specialist.  Many communities use these grant monies to induce people to move into certain areas of a city or state.  General restrictions are that the home owner must live in the property for 10-15 years.  If you sell or refinance within that period, generally the grant amount must be repaid back to the municipality that granted it.  If you need more information, please contact me at wwi_2@yahoo.com
341422
That is a SCAM -- search YA for other people scammed by this company\n\nI would be EXTREMELY WARY of companies that claim you can get grants for whatever purpose you want because that is absolutely false and not how federal grants work. And I would be SCARED all the more that this company wants you to apply for grants through them because there is only ONE site where you can apply for grants legitimately - and that is Grants.gov http://www.grants.gov\n\nYou stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing \n\nIt is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.\n\nNonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.\n\nEven if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business.\n\nEven SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html\n\n"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."\n\nHere is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.\nhttp://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show\n\nMost of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program \n\nGrants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs \n\nI suggest you read the following books to get ideas of how to finance your business:\n\nFinancing Your Small Business  http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid\nSmall Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid\nFinancing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid\nThe SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid\nAngel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid\nFinancing Your Small Business (Barron's Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid\n\nFor private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online http://gtionline.fdncenter.org  . It&#39
369630
Unless you are in a bind and need quick money or need to sell your house in a week, you should definately not use one of those services.  Their business is based on buying homes under market value, making some repairs upgrades (like "Flip this House") and reselling at a profit. The best thing for you to do is consult several Realtors and have them give you a Comparitive Market Analysis on what they think your home would sell for--they will do that for free--or hire an appraiser $300-$400.  Then call one of the "we buy houses" people and have them give you a bid.  I guarantee their offer will be significantly less.
180208
Oh!  Another dragonfly!\n\nNo I haven't used them, and yes, I'd be worried about all of that data because you don't want a bunch of bozos pulling your credit report and driving your credit score down.  I used CTX Mortgage and they were good.  They are their own lender so their margins are bigger than many banks because they are lending out their own money.  Or try www.naca.com if it's your first home.
204366
Absolutely not! Don't do it. Your big problem isn't financial, it's behavioral. Most of the answers you've gotten are from financial types that have logics about least amount of interest, etc, but they're missing the issue that refinancing won't fix your habits, and you'll probably fall under the false perception that your cards are now free for more charging once their balances are transfered. \nBeen there, done that, so believe me, it will happen.\n\nFinish reading Ramsey, he's your answer.\n\nOnce of the respondants did suggest the debt snowball which is one step on the right track. \n\nWe're doing them now and they're working for us. So far we've paid $11,000+ in debt over the last 5 months, and put aside an emergency fund (and we're far from making big bucks)\n\nHere are the steps:\nPre-steps\n-get current on your debts - at least be paying minimums up to current month\n-cut up all your credit cards (yes, all of them.)\n-sit down with your family and explain that you don't want to live like this any more and that you want a better future for them. You guys are sinking and it will take a family effort to surface and eventually swim out of this mess. Once you've got their buy-in ...\n-stop paying extra on any of debts, including extra mortgage payments (we were doing this one) \n-do a simple budget to spend less and save more - we found we were spending Hundreds a month on going out to eat and see movies. Stop all that. Cook in. DVR movies on cable or get them from your library for free.\n-stop contributing to retirement temporarily or any other savings or investment accounts. Yes, even if your companies match - it's just temporary, you'll get back to investing later.\n-adjust your Withholdings through your employer to get more now and less tax return later. It's your money, may as well have it now.\n-have a rummage sale, sell any extra cars, and get out of leases if at all possible - they're a scam.\nNow - the real steps:\n1. Put $1,000 into a savings or MM account as an emergency fund (EF). \n2. Sort all your debts from smallest to largest. Pay minimum on all except the smallest. Attack that one with all the money you've scraped up (except for the EF) and your necessities (food, shelter, trasportation). Once you've paid the smallest, use what your were paying on the first plus the seconds minimum to attack that one. This is known as the debt snowball as it keeps increasing as you go. Keep it going until their all paid. Living frugally is key, during this period.\n3. Now beef up your $1000 EF to 3-6 months of expenses (not income) \n4. Resinstate future and retirement investing to at least 15% (match your companies IRA contribution, and put the rest of the 15% into Roth IRAs.)\n5. Invest in college funds for the kids if you have them \n6. Pay off the home early\n7. Build more investment and retirement wealth and start giving what you can.\n\nHope this helped! Again, don't fall into the trap of using debt vehicles to get out of debt. Pay what you owe. Live on less than you make and you'll get out of this.\n\npbaez\n\nIf you need more ongoing support, join our yahoo group Dave Ramsey http://finance.groups.yahoo.com/group/Dave_Ramsey_Debt_Beaters/
64534
One of the misconceptions of many people is that it is easy to get grants to start a business. It is not. Government databases that list grants such as Catalog of Federal Domestic Assistance http://www.cfda.gov merely gives listings of grant programs, but whether you can actually get them is another matter. Note in this SBA page http://www.sba.gov/expanding/grants.html that says:    \n\n"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."\n\nIn December 2001, NBC Dateline looked into this myth that there is such thing as "free money" for businesses in a segment entitled "Is there such a thing as free money? Tracking down the truth in those ‘free money’ offers." They bought lists offered by some of the websites that say they have lists of organizations and programs that offer free grant money to those who want to start a business or for other purposes. One of their findings was that foundations typically do not give out money to private individuals to start a business.\n\nAs stated in the SBA page I quoted above, grant monies are provided to "non-profit organizations, intermediary lending institutions, and state and local governments." The best way is to check out local non-profit organizations in your area if they have grant programs for would-be entrepreneurs. \n\nTo cite an example: Community Business Partnership, a non profit based in Springfield, Virginia recently entered into an agreement with the Association for Enterprise Opportunity (http://www.microenterpriseworks.org/) to promote the DHL Advancing Micro-Entrepreneurs Program and the DHL Cares Project. They have been asked to select ten clients who meet the criteria for AEO/DHL program participation. Those ten clients who agree to participate in this program will receive $1000 for business development as well as free and reduced cost shipping during the program's duration. This is the type of "free money" that is available out there -- going to the local non-profits or local government agencies.\n\nCheck out one of the grants listed in CFDA called "Women's Business Ownership Assistance" http://12.46.245.173/pls/portal30/CATALOG.PROGRAM_TEXT_RPT.SHOW?p_arg_names=prog_nbr&p_arg_values=59.043 - you would think that this is perfect for your situation. But look closely at the guidelines and you will find that applicant eligibility calls for "Private, nonprofit organizations having experience in effectively training and counseling business women." So you need to go to those organizations who are receiving proceeds of these grants.\n\nI know that this is not exactly what you want to hear, but I have seen many individuals like you scammed by people who led them to believe that grants are easily available to them.\n\nYour best recourse is to check with Women Business Centers in your area, consult with SCORE representatives in your area (Counselors to America's Small Businesses), and other non-profits that are working to help women entrepreneurs. \n\nYou may also want to consider approaching microlenders, who typically provide loans at very minimal rates. Some offer trainings for free, while others offer advice. You can find a list of SBA-approved microlenders by state here http://www.powerhomebiz.com/vol145/microloanproviders.htm \n\nHope this helps\nIsabel Isidro\nPowerhomebiz.com
569013
Yes, the IRS mandates that a unrelated 3rd party be your 1031 exchange accomodator/intermediary.\n\nTHIS IS NOT SOMETHING THAT YOU WANT TO HAVE A BUDDY DO FOR FREE!!!!!!!!!!!!!!\n\nAppreciate that I'm trying to shout for effect, cause you would no sooner try to get heart surgery from the guy down the street to save a buck.\n\nThe exchange process is not that complicated, nor that expensive.  But there are a few things that must be done the right way.\n\nI've heard of 2 main horror stories, you can guess the first... yup, someone screws up and you owe capital gains tax... the second reason is that this 3rd party has possession of your funds.\n\nIn the early days of the 1031 exchange, before people were bonded & insured (things you want to make sure they are) people skipped town with the money.... yes, ouch.  Make sure they are insured an bonded.\n\nNow, the reason that I'm on my soap box is because I'm about to complete my 1031 exchange resource page: http://www.1031store.com .  I've worked with a number of 1031 exchange buyers & just want to clear up a number of misconceptions and make everyone's life a little easier.\n\nIt's my true thought that once people associate TAXES with 1031 exchange, they just shut off.  Who wouldn't want to watch a little TV rather than read about this stuff.\n\nI promise to fully complete the site by July 4th, but feel free to check it out in advance.\n\nYou will be able to find experts here:\nhttp://www.1031store.com/experts/1031_exchange_experts.php\n\nCalculate your capital gain here:\nhttp://www.1031store.com/resources/1031_capital_gains_calculator.php\n\nHope this helps.  You'll be able to connect with some decent people shortly.
653108
YES\n\nA reverse mortgage is a special type of loan used by older Americans to convert the equity in their homes into cash. The money from a reverse mortgage can provide seniors with the financial security they need to fully enjoy their retirement years.\nMany of the same costs that someone pays to obtain a home purchase loan, or to refinance their existing mortgage, apply to reverse mortgages too. You can expect to be charged an origination fee, up-front mortgage insurance premium (for the FHA Home Equity Conversion Mortgage or HECM), an appraisal fee, and certain other standard closing costs.\n\nIn most cases, these fees and costs are capped and may be financed as part of the reverse mortgage. Below is a more in-depth explanation of each type of fee. \n\n\nOrigination Fee\nThe origination fee covers a lender's operating expenses—including office overhead, marketing costs, etc.—for making the reverse mortgage. \n\n\nUnder the HECM program, which accounts for 90 percent of all reverse mortgages made in the U.S., the origination fee is equal to the greater of $2,000 or 2 percent of the maximum claim amount (i.e., county FHA loan limit). Currently, the FHA loan limit varies from a low of $200,160 (for rural areas) to a high of $362,790 (for high-cost metropolitan areas). Therefore, the 2 percent origination fee generally ranges between $4,003 (2 percent of $200,160) and $7,256 (2 percent of $362,790). \n\nHome Keeper borrowers are charged an origination fee that may not exceed 2 percent of the value of the home. With either product, the entire amount of the origination fee may be financed as part of the mortgage. \n\nMortgage Insurance Premium\nUnder the HECM program, borrowers are charged a mortgage insurance premium (MIP), equal to 2 percent of the maximum claim amount, or home value, whichever is less, plus an annual premium thereafter equal to 0.5 percent of the loan balance.\n\nThe MIP guarantees that if the company managing your account – commonly called the loan “servicer” – goes out of business, the government will step in and make sure you have continued access to your loan funds. Furthermore, the MIP guarantees that you will never owe more than the value of your home when the HECM must be repaid. \n\nAppraisal Fee\nAn appraiser is responsible for assigning a current market value to your home. Appraisal fees generally range between $300-$400. \n\nIn addition to placing a value on the home, an appraiser must also make sure there are no major structural defects, such as a bad foundation, leaky roof, or termite damage. Federal regulations mandate that your home be structurally sound, and comply with all home safety codes, in order for the reverse mortgage to be made.\n\nIf the appraiser uncovers property defects, you must hire a contractor to complete the repairs. Once the repairs are completed, the same appraiser is paid for a second visit to make sure the repairs have been completed. The cost of the repairs may be financed in the loan and completed after the reverse mortgage is made. Appraisers generally charge $50-$75 dollars for the follow-up examination. \n\nClosing Costs\nOther closing costs that are commonly charged to a reverse mortgage borrower, include: \n\nCredit report fee. Verifies any federal tax liens, or other judgments, handed down against the borrower. Cost: Generally under $20 \nFlood certification fee. Determines whether the property is located on a federally designated flood plane. Cost: Generally under $20 \nEscrow, Settlement or Closing fee. Generally includes a title search and various other required closing services. Cost: $150-$450 \nDocument preparation fee. Fee charged to prepare the final closing documents, including the mortgage note and other recordable items. Cost: $75-$150 \nRecording fee. Fee charged to record the mortgage lien with the County Recorder's Office. Cost: $50-$100 \nCourier fee. Covers the cost of any overnight mailing of documents between the lender and th
493395
Sound fishy to me too.  I think they are trying to show an artificially high sales price to use to convince others to pay more for similar units than they would otherwise pay.  Even if it is legal, if you borrow the $50,000 in your mortgage, you will probably pay around $100,000 in extra interest over the life of the loan.
83285
I recieved the very same offer. I was scammed this time last year by a company named First Costal Systems offering the same type of grant. They passed the account information out to others, if you decide to accept the offer. Be aware that there is a checking account required, they will tell you that. They may also require a fee for processing the grant application.
297745
Grants are NOT free money that is given to anyone for the sake of simply giving away money. Grants are OBLIGATIONS and given for a PURPOSE - Government gives you a grant because you can do something that is for the good of the community or whatever greater good. When you receive grants, there is a performance review to find out how you are meeting the objectives of the grant that you received. \n\nOne of the common misconceptions floating around is that government is giving FREE MONEY away. They are not, and those who believe that government is indeed giving free money away are those who are SCAMMED by those perpetuating these lies.\n\nLet's take for example Grant 81.042 WEATHERIZATION ASSISTANCE FOR LOW-INCOME PERSONS. The objective of this grant is to http://12.46.245.173/pls/portal30/CATALOG.PROGRAM_TEXT_RPT.SHOW?p_arg_names=prog_nbr&p_arg_values=81.042 :\n\nTo insulate the dwellings of low-income persons, particularly the elderly, persons with disabilities, families with children, high residential energy users, and households with a high energy burden, in order to conserve needed energy and to aid those persons least able to afford higher utility costs. \n \nThis grant is not given directly to an individual but to states including Native American tribal councils. Individuals can benefit from this grant though, but individuals who receive this type of assistance are EXPECTED to use the funds to insulate their dwellings.\n\nyou can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your objectives.\n\nEven if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business.\n\nNote that most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program \n\nGrants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs \n\nhttp://www.cfda.gov\nhttp://www.grants.gov\nhttp://gtionline.fdncenter.org\nhttp://www.powerhomebiz.com/vol66/grants.htm\nhttp://www.sba.gov/expanding/grants.html
284687
Perhaps the families in question should read the fine print before they borrow money from a "Payday Loan" type of lender. Better yet, being more responsible with your financial matters usually helps out alot. These businesses while charging way too much for their services and preying on those who are in need of quick cash, have the right to operate this way. The charges for their services are not "secret" and if cost is a concern then I would recommend asking the right questions, i.e. How much??? \n\nI am in the Army and know that it is not necessary to starve unless you  can't keep your unnecessary spending in check. As for deployments? I am inclined to ask how all the increased family separation pay, the hazardous duty pay, increased BAS and BAH and the other support benefits are not enough? \n\nShould the government help protect these poor poor souls? Yes, by strengthening our education system and releasing graduates into the world that have enough sense to find their way home at the end of the day. \n\nDo you really think that we need to be protected from our own choices? Go to payday loans....Choice. Spend responsibly and cut back when necessary....Choice. Frankly I think it is sad that you would ask for the governments help in the form of limiting freedoms and in the same breath bring up our military who if you are unaware, are charged with protecting freedom. \n\nI agree that these businesses are wrong to prey upon those in need. In fact I think their practices are unscrupulous and un-American, but their right to charge what ever they wish for THEIR product or service is theirs to cherish, appreciate or take advantage of. It's too bad that they choose to take advantage rather than to contribute, but that's life. Get your affairs in order the old fashioned way. Don't live outside your means and quit expecting someone else to pick you up when you throw yourself to the ground. I for one can more than relate to having debt issues and tight times, but I also know who is to blame and exactly who will have to pull me out when I find my self in such a place.....ME.
143585
Going through old files.  Interest rates were much higher a few years ago and a lot of the people with 10% interest rates may be interested in refinancing considering they wouldn't have to add that many more years to their mortgage.  Assuming you're in the mortgage business, that is.\nAnd I know that it's difficult, but cold calling works as well.  Sending out inexpensive flyers works, too.
180894
They do have a forum http://www.cashcrate.com/forum/\nand I don't think they would allow freeom to talk among the members if they didn't pay...wouldn't make sense.  I was on there the other night asking some questions, (I'm marytoad on there, pm me if you'd like!;-)  ). and one of the members said they had 80 something referrals & "this site pays".\n\nI just bought $250+ worth of advertising today, I believe in that site so much.  My teenage daughter does the ads & I am mainly into the referral part of it!  \n\nIt's fun.  PM me on there, if you want to - you've got a friend here! Or email: mamabearbea at yahoo dot com.
665736
It sounds like you're alluding to an equity sharing mortgage.  I've seen municipal agencies offer loans like these, they didn't appear on title (just as beneficiary of a trust deed).  Also, generally they need to wait for you to sell or refinance the property to get their cut of equity.  Wouldn't it suck if the lender all the sudden said, "OK, give me my equity!" and you had to come up with a couple hundred thousand dollars!
67173
Actually, I don't think the average person knows how much mail she gets on a daily basis, all asking for help of some kind. And the millions of e-mail, containing the same messages. She had a show, where she showed what the inside of her mail room looked like. It showed stacks of mail, all from one day. It nearly filled the room! She has a full-time staff that's dedicated to reading that mail. It's rare that a few of them get picked to receive anything. Mostly, it's to make the show look good...and Oprah. I sent her a letter, a couple of years ago, reagarding me needing teeth really bad. I didn't have insurance at the time, with one tooth being impacted. I never got a response that told me they had even received my letter. I have, since then, received some help and got my teeth fixed. I'm not necessarily saying you'd never get chosen, I'm just trying to be realistic. You might be waiting for the rest of your life. Or, you could be one of the "chosen ones" and things would be really great for you. I would like to encourage you to see if your community has a Habitat For Humanity, and make out an application to receive one of their homes. You would be making small monthly payments on a home that you helped build. The payments are interest free...you only pay on the cost of the materials, plus property taxes and insurance. It's what I and my husband did. We've lived in our home now for over a year and we love it. They did such a good job, and we were very much a part of the work that went into our home, even picking out the rugs & colors of the cabinets! This is a very good program and is based on how bad the place is where you are now living. If you're living with others, sharing rent, you would still qualify. You also must have income of some kind. It's all based on need and ability to pay, even if you only have a small income. Give it a try. Anyone else that reads this can give it a try too. It makes your home that much more yours when you've worked on it. <*)))><
588603
There really is only one downside to taking out a reverse mortgage.  The children are not left with 100% of the value of the home for an inheritance.\n\nWith both of your parents being 78, they qualify to get around $230,000 to use as they will.  The house is still in their name it just shows that there is a mortgage on the home like any other conventional mortgage.  They can take the full amount in a lump sum, split it up in monthly payments or leave it in a line of credit which right now has a growth rate of about 7%.  This means if they didn't touch the line of credit in one year they would have $246,000 dollars.  With the line of credit they are only charged interest on what they pull out of the line of credit and that interest rate right now is right around 6.5%.  The rest of the money sits there untouched until they need it.  These loans are set up so that there should always be equity in the home to pass along to their heirs.\n\nAll of this money is tax free and there are no monthly payments to make.  You CAN make a payment if you want and are concerned about keeping the balance down.  You even get a tax break if you pay back the interest you are being charged.\n\nThis is a much better option than a home equity loan which you have to make high monthly payments and if something happens and they get behind could lose their home.\n\nSo really the only downside to reverse mortgages is that someone like you wouldn't get 100% of the home value for your inheritance.\n\nI'd be happy to send you some more information if you would like.  This is what I specialize in and our company can do reverses almost anywhere in the country.  If you would like some more information please email me at bburns@griffinloans.com