If you've lost a family member who carried life insurance, here are some key steps to follow. One, secure copies of the most recent policy, and two, send either a notarized copy of their death certificate or the original certificate to the insurance company, which you send depends on policy requirements. Track the documents when sending three. Talk to the company about the claim. After reviewing the policy language, your. Note any policy exclusions that apply to your situation. Four. Figure out how you want to set up payouts all at once or in regular smaller payments. Five. Keep personal records of the claim, copies of all related documents and notes, including any related case or claim numbers from phone calls.

How is life insurance calculated? Life insurance rates and coverage are calculated from quantifiable factors about you, such as are you filing singly, just you or jointly with a significant other? What is your age at the time of filing your current health and lifestyle? Also matter. Do you have any chronic or serious illnesses? What kind of lifestyle do you lead? Do you smoke? Does your weight impair your health? Do you participate in potentially life threatening hobbies? In addition, family medical history and your driving record may affect rates naturally, the length of the policy and amount of. Effects cost as well as do the way payments are structured. Do rates increase, decrease, or stay constant over time? It's worth understanding the details as lower premiums can provide major savings over time.

Don't wait for a hundred year storm to learn about flood insurance. Here are some key facts. One, there's generally a 30 day delay before new flood insurance coverage is in force two. It's not just riverfront homes, one in five flood insurance claims are made from low risk areas. Three. Standard homeowners insurance will not cover floods. Fortunately there are solutions. Flood insurance is quite affordable. The Federal Emergency Management Agency says that annual flood insurance premiums can be as low as $112. You can purchase flood insurance from any insurance company that participates in the National Flood Insurance Program. You can supplement N F I P coverage with private insurance for additional coverage. Not having flood insurance is costly. Damage from that rising water could cost you thousands, even an additional loan on top of an existing mortgage. Visit flood smart.gov and talk to your agent to understand your options.

With collision coverage when your car hits an object like a tree, or another car your insurance company will pay for repairs to YOUR car. If you have a “deductible”, you’ve agreed to pay that much in repairs yourself first. Then your insurance pays up to the limits of your coverage which should equal the value of your car. Collision doesn’t cover: medical bills, theft, or car damage NOT caused by a collision.

The video puts this in more visual terms, but basically, a seller can respond to a buyers offer with changes - a counter - that improves the terms. You need to put yourself in their shoes and construct a modified offer that you think they might take that meets more of your needs. Then it is their turn - accept, reject, or construct yet another counter. It is an efficient market process, but beware: clauses and costs matter. Your broker should be closely involved in constructing a counter. Successful bargaining is best done with a win/win approach where each side is meeting their biggest needs and compromising others to reach an agreement. Remember that outside conditions like interest rates, and supply and demand, will keep evolving so you will need to be patient but decisive to craft an counter-offer that works for both sides.

As the video says, the name is misleading - theyre not loans FROM the VA. The VA - short for US Department of Veterans Affairs - is the Federal military veteran benefit system. The VA administers benefits and services for Servicemembers, Veterans their dependents and survivors. Programs related to home loans are one of their key services. The VA is not a bank; they do not provide home loans themselves. But they do guarantee a portion of home loans provided to veterans and other eligible people by banks and mortgage companies. These guarantees enable lenders to provide more favorable terms. They are are commonly called VA Loans. They cover buying, building, repairing, retaining and adapting homes for personal occupancy by eligible Veterans and survivors.

The video puts this in more visual terms, but 203(b) is the most commonly used FHA program. It offers a low down payment, flexible qualifying guidelines limited lenders fees, and a maximum loan amount. 203(k) loans enable homebuyers to finance both the purchase and rehabilitation of a home through a single mortgage. A portion of the loan is used to pay off the sellers existing mortgage and the remainder is placed in an escrow account and released as rehabilitation is completed. Basic guidelines for 203(k) loans are as follows: The home must be at least one year old. The cost of rehabilitation must be at least $5,000, but the total property value - including the cost of repairs must fall within the FHA maximum mortgage limit. The 203(k) loan must follow many of the 203(b) eligibility requirements. Lenders will know specifics about improvement, energy efficiency, and structural guidelines.

Intimidated by mortgage loan terms and the list of fees? This short explainer video will help you get a handle on all of it. While a mortgage involves borrowing money for a home, there can be quite a few items and fees in the stack of papers. "Loan origination" -- the process of documenting and evaluating your loan application -- is not free. The "loan application fee" is one of the key components to understand. This fee generally covers: The lenders costs to verify, evaluate and underwrite the loan. This fee also pays for appraisal of the property — a professional valuation for the lender (not for the buyer.) Fees to "pull" your credit history. Other surcharges; ask the lender for a detailed list. Loan application fees are generally non-refundable.