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                 VACATION TIPS


Do you have some vacation time coming up? If you make a trip you will need to make some plans such as flight arrangements or hotel reservations. Whether you are going to visit family or you plan to take your family to a ski vacation or travel abroad.

No matter what you choose to do you can find great deals on your trip. You can shop around for the best airline deals or even hotel deals which can save you hundreds on your trip.

One way to limit the expense that all of this creates, is to book an all inclusive vacation. While this will not alleviate all of the things an individual has to think about, it will help to reduce the amount of planning that is needed.

All inclusive vacations usually include accommodations, meals, tips, and taxes are included in the package. Sometimes, they can also include attractions, airfare, and transportation as well. To find an all inclusive vacation that fits the needs of an individual, several things should be taken into consideration.

All inclusive vacations wrap the cost of all these expenses into one. That is not to say that an individual can not find great deals on these items individually. But, often an all inclusive vacation includes all of this at a discounted rate.

If considering an all inclusive vacation, one should check out the deals that are available. Individuals who are really looking for the best deal should take the time to find out if all inclusive vacations they have found are a better deal. But, in the end, they can find all this information and do so from their home.

The Internet is a great tool in planning a vacation, including an all inclusive vacation. Most big attractions have all inclusive vacations planned for them. To find the options available to anyone, it is as simple as finding the right Internet sites.

An all inclusive vacation may be just the thing to help make planning a vacation less of a struggle and more of an enjoyment. And, it may just save some money!

Often times we want to take our children to see the things we saw when we were younger. It would be nice to see some new destinations as well. Either way, we want to do a lot but don't always have the funds. So, we are always in search for a deal. There are many out there to be had. Here are some quick ideas.

Saving on airfare is all about shopping around. Compare the different offers each company has. Can you fly in mid week and avoid weekend charges and busy times? Flying at night or at odd times can also increase your changes of getting a deal.

Once you get to your destination, you'll need a place to stay and a car to drive. The best way to get deals on these is to plan ahead. Making reservations ahead of time can be the best way to lower your cost. Cutting out extra charges on things you don't need, or won't use, also helps. No need for that car to come with a DVD player if you only plan to drive short distances. Along the same lines, you probably won't have time to watch all those movies on cable either. Eliminating these extras can lead to extra cash in your pocket.

Saving money on travel doesn't need to stop there. You can save money on travel in just about every aspect by planning and research. Take the time to compare different companies, then choose the best option for you. Also, take a box of cereal and pick up a gallon of milk instead of spending a ton on breakfast.

Grab a local newspaper to see if there are deals in there for area restaurants. The local family diner may have some great food at reasonable prices but is overlooked because of all those glaring signs in tourist's face.

Being able to find a deal on travel is a great advantage. Saving some extra cash can truly make your vacation more worthwhile. Since so many people just don't get enough vacation time, getting the most out of what they do get is key. So, take some time and find the best travel deals out there for yourself. There are so many different ways you can find great deals but online appears to be the best way. Just do a quick search and you will find what you are looking for which will save you money!

          HOW TO MAKE
    HOTEL RESERVATIONS



When traveling for business or fun, there’s nothing worse than thinking you have a reservation and learning your hotel reservations been lost, your room has one bed and not two bedrooms, or you thought your check-in time was noon, only to find out it is really 3:00pm. To help avoid these things from happening, there are a few helpful hotel reservation tips seasoned travelers recommend:

Always use a credit card when making a hotel reservation. Using a credit card offers the guest some level of protection should the hotel stay go awry. Any disputes a guest may have with the hotel, or with the billing can more easily be rectified through the credit card company. The card company will act as a mediator once their client can show effort to resolve the dispute. Additionally, if a dispute cannot be resolved, the credit card company has the authority to remove the charge from a client’s bill. If cash were paid, a hotel guest would have no recourse.

Note: If you don’t use your own credit card to secure a reservation, be aware that the person whose name is on the card will be responsible for showing the card and signing at check in. If the card does not belong to the person staying at the hotel, notify the desk before leaving home (prior to arrival) and ask what their identification procedure is. They may accept a letter from the credit card holder authorizing use, and a copy of both the front and back of the card.

Ask for deals/discounts at each hotel. Many hotels offer corporate, AAA, senior, or even mid-week/off-season discounts. If one is not offered - ask about them. Many hotels now offer ‘rewards’ programs and some hotels reduce rates by $50 or more, for simply signing up for their program. If making reservations online, look for internet-only rates and shop various websites to find the best deals. Travel agents can often secure unadvertised specials or late check-in opportunities which can translate into huge savings.

When making reservations speak clearly and repeat spelling of all names. There have been many reservations lost because of inaccurate spelling and guests have been told they did not have rooms when a hotel or an entire city was booked to capacity. If any special requests are made, verify them and if possible get them in writing. Also make sure to get the name of the employee. Verify everything spell names and verify information/requests etc. Double check reservations prior to leaving for hotel and make sure names of all hotel employees you’ve spoken to are taken.

When reservations are made, changed and cancelled-confirmation numbers are given. Make sure all numbers are kept in a safe place until credit cards are billed and all charges are verified. Cancellation and confirmation numbers are often the difference between being charged for a hotel reservation that was cancelled, the possibility of a free upgrade when the hotel overbooks and you can prove when your reservation was made, and being stranded away from home without a room for the night.
Discuss hotel policies prior to making reservations, and verify them at check-in. Some hotels require credit cards at check in for any hotel charges, such as telephone usage, room service, meals in the hotel, or even take -out arranged through the hotel with area restaurants, etc. If a credit card is not available, a cash/check deposit maybe required for any services/fees that may accrue during the hotel stay. Determine when check-in/check-out times are, when cancellation policies go into affect and verify occupancy limits if staying in a room with multiple occupants.

Remember these hotel reservation tips when scheduling your travel plans. Whether by internet, through a travel agent, or by telephone, it pays to research the hotel and be meticulous when making arrangements. A little pre-planning when making reservations can save major headaches when traveling away from home.



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FHA REVERSE MORTGAGE QUESTIONS ANSWERED

The Home Equity Conversion Mortgage (HECM) is FHA's reverse mortgage program, which enables you to withdraw some of the equity in your home.  The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement Social Security, meet unexpected medical expenses, make home improvements and more.  You can receive additional free information about reverse mortgages in general by contacting the National Council on Aging at (800) 510-0301 or downloading their free booklet, "Use Your Home to Stay at Home," a guide for older homeowners who need help now. It is smart to know more about reverse mortgages, and decide if one is right for you!

1. What is a reverse mortgage?

A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that you built up over years of making mortgage payments can be paid to you.  However, unlike a traditional home equity loan or second mortgage, HECM borrowers do not have to repay the HECM loan until the borrowers no longer use the home as their principal residence or fail to meet the obligations of the mortgage.  You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.

2. Can I qualify for FHA's HECM reverse mortgage?

To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home. You are also required to receive consumer information free or at very low cost from a HECM counselor prior to obtaining the loan. You can find a HECM counselor online or by phoning (800) 569-4287.

3. Can I apply for a HECM even if I did not buy my present house with FHA mortgage insurance?

Yes.  You may apply for a HECM regardless of whether or not you purchased your home with an FHA-insured mortgage.

4. What types of homes are eligible?

To be eligible for the FHA HECM, your home must be a single family home or a 2-4 unit home with one unit occupied by the borrower. HUD-approved condominiums and manufactured homes that meet FHA requirements are also eligible.

5. What are the differences between a reverse mortgage and a home equity loan?

With a second mortgage, or a home equity line of credit, borrowers must have adequate   income to qualify for the loan, and they make monthly payments on the principal and interest.  A reverse mortgage is different, because it pays you - there are no monthly principal and interest payments.  With a reverse mortgage, you are required to pay real estate taxes, utilities, and hazard and flood insurance premiums.

6. Will we have an estate that we can leave to heirs?

When the home is sold or no longer used as a primary residence, the cash, interest, and other HECM finance charges must be repaid.  All proceeds beyond the amount owed belong to your spouse or estate.  This means any remaining equity can be transferred to heirs.  No debt is passed along to the estate or heirs.

7. How much money can I get from my home?

The amount you may borrower will depend on:

Age of the youngest borrower
Current interest rate
Lesser of appraised value or the HECM FHA mortgage limit of $625,500 or the sales price; and
Initial Mortgage Insurance Premium--your choices are HECM Standard or HECM SAVER
In addition, the more valuable your home is, the older you are, and the lower the interest rate, the more you can borrow.  If there is more than one borrower, the age of the youngest borrower is used to determine the amount you can borrow.  For an estimate of HECM cash benefits, select the online calculator from the HECM Home Page. Many online reverse mortgage calculators can provide you with an estimate of the amount of funds you can borrow.

8. Should I use an estate planning service to find a reverse mortgage lender?

FHA does NOT recommend using any service that charges a fee for referring a borrower to an FHA-approved lender.  You can locate a FHA-approved lender by searching online at www.hud.gov or by contacting a HECM counselor for a listing.   Services rendered by HECM counselors are free or at a low cost.  To locate a HECM counselor Search online or call (800) 569-4287 toll-free, for the name and location of a HUD-approved housing counseling agency near you

9. How do I receive my payments?

You can select from five payment plans:

Tenure- equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.
Term- equal monthly payments for a fixed period of months selected.
Line of Credit- unscheduled payments or in installments, at times and in an amount of your choosing until the line of credit is exhausted.
Modified Tenure- combination of line of credit and scheduled monthly payments for as long as you remain in the home.
Modified Term- combination of line of credit plus monthly payments for a fixed period of months selected by the borrower.
10. What if I change my mind and no longer want the loan after I go to closing?  How do I do this?

By law, you have three calendar days to change your mind and cancel the loan.  This is called a three day right of rescission.  The process of canceling the loan should be explained at loan closing.  Be sure to ask the lender for instructions on this process.  Mortgage lenders differ in the process of canceling a loan.  You should ask for the names of the appropriate people, phone numbers, fax numbers, addresses, or written instructions on whatever process the company has in place.  In most cases, the right of rescission will not be applicable to HECM for purchase transactions.more on fha




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