What is insider trading? Who is in charge of controlling it? Would a person go to jail for it? What are some example?
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What Is Insider Trading And Can You Go To Jail For It?
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How Exactly Do 'interest Only' Mortgage Loans Work? When Do I Pay On The Principle Of Such A Loan?
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I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?
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Kim F
In an interest-only loan or mortgage the borrower only pays interest each month. This makes it cheaper than a conventional mortgage, in which part of each month’s payment goes towards the principal and part goes towards interest. These loans have become popular because the monthly payments are lower, allowing borrowers to afford a larger home.
However, these loans can be dangerous, especially in a down housing market. The interest rates are generally fixed for the first 1, 3 or 5 years. After that, they convert to a conventional loan, with a higher monthly payment. Most borrowers take on these loans because they assume they will sell the home before the interest rate increases. In a down market, they may not be able to sell. If they cannot afford the increased payment, they may have to default on the loan, and foreclose on the home. So, when the rate starts to adjust, you would need to refinance again. And, either get a fixed or another interest only adjustable. And, yes, I do believe you mean ARM. Although, if you have extra money every so often, you can pay down the principal in extra payments. -
Miguel
you can get a fixed rate of 1-30 years at interest only payments. the loan term remains at 30 years. so you can get a 5 year interest only loan based on 30 year pay back term. what this means is that the first five years you are required to make only interest payments. any amount more than that paid will get applied to principle. after the 5 year term comes up, the loan is still open but now your payments either adjust to the market at the time and/or your payments become principle and interest.
Interest only loans are good if you get them fixed for 5 years or more. it helps make payments more affordable, but you never pay down your balance. if you ever plan on moving within 10 years, dont get a loan that requires principle and interest. if you know you will never move again, then go for a principle and interest payment as long as you can afford it. -
mohin
In an ‘interest only’ loan you never pay principal down at all, just pay interest only. when the loan term is over, you still owe the principal in full. These work best when you’re taking out a short term loan to, say, rehab a house that you intend to sell for more than you bought it for, so that you can reap the profit. These loans aren’t for the average person. These loans are for various terms, but usually short term (1-6 months, 1 year, etc) and are almost always fixed rate.
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mohin
The other answers are mostly correct, however no interest only loan product allows for interest only payments throughout the term of the loan. They are all limited to a pre set interest only period with 15 years being the longest period I am aware of. These loans can be fixed rates as well. The best one I know of is a 40 year loan term with the first 10 years being interest only. This basically allows you to make smaller payments for the first 10 years, then having a traditional 30 year fixed rate over the remaining 30 years. There are also no rules that do not allow you to pay towards the principal during your interest only period. Many people will take an interest only loan for the security of having a smaller payment when they need it, but paying extra to principle when their budget allows. Anything you pay extra applies directly to your principal balance which will ultimately reduce your payment once the interest only period is expired.
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p k
Every loan has an APR, what people refer to as “bad” is an ARM (adjustable rate mortgage).
An interest only loan is usually amoritized over 30yrs. But yes, you are just paying interest only & NOT paying anything towards your principal. If after 30yrs. of paying Just the interest on say a $100K loan,,,, after 30yrs. you would still owe $100K, at which time you would sell the home or just refinance. Most people do not pay interest only on the same loan for 30yrs.
If you have an interest only loan, it is because you couldn’t afford to pay the principal as well when you first got the loan. You should contact the bank who holds your mortgage note & ask if you have a “pre-payment” penalty OR if it would be OK to make some payments towards your principal.
If you’re currently on an adjustable rate interest only loan, it would be better & safer to refinance to a fixed loan payment. Even if it is interest only, just make sure you ARE able to, if you want, to make extra payments towards principal.
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Can You Get A Loan To Renovate,extend And Improve Yard Using Your Home As Equity Only?
admin
want to renovate, extend with new living area, build a garage and fix up yard and fence. Can I get a loan using my home as equity only? Neither of us work, partner has severe back injury, and we have 3 children. At completion I would like to work from home doing child care, I’m trained, but need these improvemnts to make house suitable to do this.
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read this carefully:
Banks will look at your qualifications which are determined by your debt to income ratio ( which means how much you make and compare to how much debt you owe,although they have stated income programs, or no income programs) where you dont have to show or have income.
your loan to value, (which means how much equity will be in your house after the loan amount is determined, the lower percentage the better usually under 70%) and they will also look at your middle credit score and credit history. Oh and they will also look as if you have any kind of reserves i.e 401k IRA investments or a nicely padded savings account.
Dont go to a Retail Bank got to a Mortgage broker they have wholesale rate ( Mortgage Brokers get cheaper rates from Banks for the costumer, costumers get the retail rate if they go straight to the Bank) Some times it cost a little more to go straight to a broker but in the long run you will get the best rate long term and save more money vise getting a cheap higher rate that will end up costing you more in the life of the loan.
Another thing get your self a business license before you do this that might help in the loan process, plus it doesnt cost much and get a good CPA. As a home and business owner you have to start thinking write off write off writte off!!
Usually banks look at the benefit of the loan, if you are not already set in a long term fixed loan I would refinance and get cash out for the home improvements and get into a fixe rate. HELOCS Prime rates are at a 8.25 prime and it might be adjustible. if you refi you will have a lower interest rate. Youd have to talk to a loan officer or retail lender to look at your scenario. Plus you can Open a small HELOC to jump start your business. man I wish I knew who you were to walk you in the right direction before you get riped pff by some shark loan officers out there. what ever you do dont let anyone rush you it is a very important decision which will affect you in the years to come.there is a lot of different options for you and the best way to determine those options is by looking at your overall situation.
got to
pelicanlending.com
and see your options and use the mortgage tools, if you seek more help fill out an appication with contact information, or email pelican. my name is Chris, and I can at lease help you by explaining things to a T. no obligation no committement, just a free consultation. After all this is a very important life decision I cant stress that enough! and shop around dont go for the fisrt guy that promeses you the world, in this business if it sounds to good to be true it probably is.
good luck
Chris M diaz
Mortgage Consultant
US MARINE -
cheap flights to the Philippines
Most banks offer HELOC lproducts – Home Equity Line Of Credit.
You need to have sufficient equity in your home to cover the LOC amount, for example if your home equity is $50,000, you can get a LOC of $50,000 and can withdraw the entire $50K for any purpose.
The interest on a HELOC is tax deductible, up to a loan amount of $100,000.
Why not just drop into your friendly neighborhood bank, and ask for details about the HELOC? Or google HELOC and see what comes up. -
Skip
I see that erstwhile colleagues are seeking business when they should be giving advise.
You should go locate a mortgage broker in your telephone book. Tell him you want an home improvement loan. Also tell him you are interested in looking at a
#1 Getting a HELOC (Home Equity Line Of Credit)
#2 A 2nd Mortgage
#3 A refinance of my existing loan
I also want to be able to compare the three and see which benefits me the best over the long run.
Simply tell him about the garage, extending the living area and repair of the fence and landscaping.
You need not tell him you are planning to fix the property up and use it as a commercial place to take care of children. That will be our little secret.
Now there is a question of how you plan to repay this loan you are getting as you indicated that neither of you work. This could be a deal killer. But let’s not lose faith yet.
What type of income do you presently have coming into the
house, and how do you take care of everyday expenses?
There are such loans that you can get where you do not have to prove income. These loans normally are a bit higher. Speak to your mortgage broker about this situation. He will make a few suggestions.
Don’t get into a situation where you borrow the money on your home and really have no way of paying it back. You will eventuall lose your house and you and your three (3) children will be on the street.
Now back to the day care center you plan to have at your home. I suggest that before you go through all the trouble of getting this loan to prepare your property for this endeavor you check with the city and find out the necessary permits and license you will need to get before you start on this adventure. If everything is ok in that department then go full steam ahead. Still keep it a secret from the mortgage broker. He need not know the real reason behind this home improvement loan.
Once you and your mortgage broker has decided on the loan programs you are qualified for based on your credit scores and credit report, you are set to go select the one that will benefit you the best.
For your information after you get your loan. You should get a city permit anddefinately business cards. This will make it easy for you to get you or next loan, especially when you have to prove that you are self-employed the city permit will do it without fail. You will also want to get a CPA or professisonal bookkeeper, you will not believe how much this will be of an asset to you for securing loans for the self-employed, even if they only do your taxes at the end of the year.
I hope this has been of some use to you, good luck.
“FIGHT ON” -
LadyB!™
Generally speaking no, income verification is usually part of the process, the borrower needs to demonstrate the loan will be repaid.
There are some specialty loan programs that don’t require documentation for income “no doc” loans, but usually they require a credit score above 700, and some other assets (cash, pensions, etc.)
Talk to a mortgage broker and not the banks for no income loans, brokers have more resources. Also, if one says no don’t be discouraged and give up. There may be another broker or banker with a lending program to meet your needs and qualifications.
Hope this helps. Good luck. -
Tony N
There are loans for rehab which future value of the property is used instead of the current value. While you will have to be able to qualify for the monthly payments you may be able to base that income on expected income generated once the work is done. Contact herbert.moses@wellsfargo.com. If it can be done, he will know how to do it. Hope this helps.
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About How Much Would It Cost To Develop A Software For Stock Options Trading?
admin
About how much would it cost to develop software that could make about 1000 calculations per second, grab dynamic information from the web or another trading platform, and trade derivatives of stocks through a brokerage by itself? Thank you.
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Jeff S
It would not be cheap. Which is why a previous poster suggested looking at COTS products already on the market.
Here’s some assumptions based on your post:
1) This is a real-time system that acts on the incoming feed and doesn’t have any fancy requirements for historical data.
2) You have some idea for an already existing and proven trading strategy that can be expressed in code.
3) The system is a dedicated workhorse trading plaform that does nothing but trade your strategy (#2 above), so there’s no fancy gui of charts, and library of a zillion technical indicators.
4) You have some other program to report on trades, do PnL reports, etc. The new system will only trade your strategy and generate a simple record in a database for each trade made.
That said there’s three core areas of development:
1) The real-time data feed. Most commercial sources have an API for their streaming data. Although not trivial they usually have plenty of example code. Probably about 2 weeks of time.
2) Implementing your trading system. This is the biggest unknown, just a swag here would be a full 4 weeks.
3) Broker interface, use a pseudo-standard here like FIX. I suggest looking at QuickFIX since its open source and has wide support. This depends on your broker and how well they support FIX. Since this is more an integration issue than a coding issue I go with 4 weeks.
Throw in 2 weeks for testing and debugging and you’re looking at a minimum of 3 man-months or 480 hours.
Assuming you get someone who knows what their doing and not some hack who charges $20 an hour and can barely spell “C#”, let alone design a system from scratch, you’re looking at someone in the $100/ hour range.
Round it off and say $50,000
I’ve been programming for 25 years and for 14 of those years had my own software consulting company, so I feel this is probably the minimum to get something up and running.
Of course the other side is the question is why you’d want to do this. I’m assuming your an individual person (retail trader) and not a hedge fund. Have you thought about the latency of trading remotely and the commision costs? The big boys that do this have their trading servers co-located nextdoor to the exchange and are constantly trying to shave 1 or 2 milliseconds off their execution times to beat everybody else into the orderbook. They also strike incredible discount deals on commisisons with their prime brokers that you and I will never see. That’s the big hurdle for a retail trader to try anything like the low-latency, high frequency stuff that you imply. -
Psychic Computer Repair® PEBKAC?
Why develop one if it already exists? Have you researched to find if one is available on the platform you want? It would obviously be cheaper that way.
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How Do We Stop Global Warming From Hurting Other Planets?
admin
I just read that the surface temperature on other planets is also rising. How can we stop the spread of Global Warming to other planets?
I don’t doubt that we humans are effecting climate change on Earth. My troll-ish question is making the point that there seems to be a cosmic element to the rise in temperature, and not just humans abusing the earth’s resources. Which leads to the next question – realistically, how effective can we be at manipulating the macro climate?-
Dana1981, Master of Science
Um, what other planets are you talking about? I would suggest providing evidence to support your claims in the future, because otherwise it’s hard to know what you’re talking about or to correct your errors.
The most often cited planet for this argument is Mars. Mars is warming for entirely different reasons than the Earth – namely dust storms darkening its surface:http://news.nationalgeographic.com/news/…
There are similar arguments for the few other planets in our solar system which are warming. As I recall, the theory is that Pluto is warming because it recently reached the closest point to the Sun in its orbit (though I might be remembering wrong).
An important point which you’re missing is that not every planet in our solar system is warming. In fact, only about half are showing signs of warming. If the Earth’s global warming were due to “a cosmic element” (a.k.a. the Sun), then every planet would be warming. That’s simply not the case. -
James H
You make an interesting point. Yes planets with atmospheres get warmer as time goes by. The issue on Earth is that it has gotten warmer faster in the last 100 years than it ever had before. That is not due to the cosmic element but the human element. I don’t know if there is anything we can do but try to adapt to the new Earth that we are shaping.
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Lew
The sun is in an period of heightened activity. Their has been a documented increase in temps on Mars. For Mars this is a good thing. Warming the planet could invigorate a dormant ecosystem.
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Sick of Life
How dare you think for yourself and stray away from the flock of sheeple! Your quest for the truth makes you a racist, scoundrel, threat to the government, and you will soon have black helicoptors and the US version of the Pretorian Guard to eliminate you. You will end up in the underground of Denver’s DIA airport where 10 foot-tall lizard men will eat your internal organs.
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Tuba in the Rose Parade
Don’t worry, as long as humans don’t visit them they won’t be at risk. I don’t know what you read, but I assure you that isn’t true. Ask any astronomer.
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XxATLfan
It can’t hurt other planets.
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GG
Here’s a fabulous concept: when you click on this site, Care2 makes a donation that will remove one pound of carbon dioxide emissions from the atmosphere. It doesn’t cost you a thing and every click really counts. Check it out:
PEACE
GG -
EnragedP
Warming on other planets doesn’t really mean anything. Sure, there may be a couple other planets in our solar system warming, there are also some cooling, and some doing nothing at all. If there’s some sort of cosmic element involved, it apparently decided to skip over most of the solar system, and only focus on certain planets.
It seems far more likely to me that the few planets warming all have distinct causes which have nothing to do with the warming on Earth. -
CrazyCon
Now this was a funny post. I bet the Martians are all freaked out about global warming also.
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Sgt. Pepper the Cubs fan
That is a very good point which proves that global warming is not man made the liberals will try to tell you somthing different but it is not man made.
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Ur Question
global warming is happening on our “globe” lol which means it wouldn’t spread to other planets…. it is an isolated situation on or planet because of the wearing down of or O Zone layer and greenhouse gases. Though you are right. It has been reported that temperatures around the entire solar syster are rising … but since humans have no impact on their atmosphere there is really nothing we can do to stop it….. on other planets it is a natuaral progression. Some people use this to try to disprove global warming on our planet but it is hard to disprove NASA’s O-zone mapping… take a lookhttp://ozonewatch.gsfc.nasa.gov/daily.ph…
this is a picture of the ozone hole O^3 on September 17th. You can check out later dates and see how the hole has slowly grown bigger over time due to greenhouse gasses and other things that humans do
the chemistry of this is that when we realease chlorine atoms and other things like CO2 they react with ozone O3 and break off an oxygen from that O3 making it O2 which in a natural state is pure oxygen… slowly this breaks down the ozone layer leaving us completely unrotected from the suns UV rays…. then greenhouse gasses reales by fuel emmisions and other things hold that excess heat down on the earth by preventing it to escape -
fyzer
I have a bridge to sell………
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Alix
No one cares about global warming…its dumb!
Can’t wait to see how many thumbs down I get;)
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courtney r 6:15 pm on March 1, 2010 Permalink
Insider trading is using non public secretive info to cut your monetary losses in bonds or stocks..
martha stewart and mark cuban are examples of people that come to mind when i think of insider trading. Yes it is illegal.
The FBI and SEC are the main overseers of trade.
miss♥mar 9:25 pm on March 1, 2010 Permalink
yes, Martha Stewart, well she didn’t technically go to jail for “insider trading” but they charged her for other reasons…Insider trading is when you know some secret inside company information about the stocks and so you act upon it and either buy/sell (usually sell because it’s going down) your own stock…This is unfair because you knew something that not everyone playing those same stocks had information about…they can only see what records are posted as far as like balance sheet, income statement, cash flows, history, industry comparisons, etc.
Officer Friendly 11:12 pm on March 1, 2010 Permalink
Insider trading means someone in a position of power at a company uses their knowledge of the company to buy a bunch of stock and then dump it all right before it tanks. It’s very illegal, the SEC tracks down people who do this and sends them to prison. It happened a lot in the 1980s and people paid fines and went to prison, the SEC cracks down in it now.
k 5:13 am on March 2, 2010 Permalink
Yes, it’s illegal. That’s why martha stewart went to jail for example. If someone who has inside information/connections in a public company, makes stock trades based on information that regular people do not have access to, it’s considered to be cheating the system.
Kevin 6:15 am on March 2, 2010 Permalink
like working for a company and buying alot of stocks “or selling” because of some inside information you have about the company… like walmart was about to buy light bulbs for some company like GE, you would go out and buy a lot of GE stocks thinking they will go up because of walmarts deal. its mildly illegal but nothing really ever comes out of it