Mortgage rates are now at all-time lows (although they have shown signs of drifting higher of late).  If you are a renter and youve been considering purchasing a home, now is a great time to lock in a low rate with Total Mortgage.

Many first-time homebuyers put off purchasing a new home because it can take years to be able to save up the 20% down payment that many lenders require.  If you have good credit but not a lot of money for a down payment, you may want to look into getting an FHA mortgage.

One of the best features of FHA loans are that they only require a minimum down payment of 3.5%.  This has made FHA mortgages especially appealing to young people and first time home buyers.

Today we are able to offer FHA loans at our lowest rate ever, 3.990% with an APR of 5.799%* for qualified borrowers.

If you took out a mortgage with the FHA over the past couple of years, you may want to look into refinancing at todays low rates.  Luckily, refinancing an existing FHA mortgage is easy with the FHA streamline refinance program.  You may even be able to refinance without a new appraisal, saving time and money.

Weve been helping responsible people achieve their dreams of homeownership for nearly 15 years.  Were experts at FHA loans, and we can help you with every step of the process.  To speak with one of our licensed mortgage officers about the FHA program, call us today at 877-868-2503.  Start planning your future today. 

Mortgage rates are always changing. All rates were quoted at 11:20 AM, on August 26, 2011.

*All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 1 points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, one points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants and are subject to mortgage approval. All rates are subject to change without notice.

(The following statement was released by the ratings agency)

Aug 26 – The US CMBS sector is in for a bit of encouraging news heading into next year
with respect to loans coming due, according to Fitch Ratings.

In transactions rated by Fitch, approximately 1,200 commercial mortgage loans
totaling $17.3 billion are scheduled to mature in 2012. This represents a
sizeable drop compared to 2,000 loans totaling $22.5 billion that matured this
year. Maturities remain modest in 2013 ($13.3 billion) and 2014 ($15.5 billion)
before jumping to $29 billion in 2015.

Loans scheduled to mature in 2012 have an average balance of $13.9 million and
were originated between 1996 and 2007. Loans secured by office properties
represent the largest concentration of maturing loans next year at 38%.
Multifamily (22%), and retail (20%) properties follow. Fourth quarter-2011
(4Q11) maturities remain modest at only 204 loans representing $4.4 billion.

Fitch continues to expect the majority of loans to payoff at maturity despite
the short term volatility of the capital markets. Most maturing loans,
particularly those from earlier vintages, benefit from stable performance and
years of scheduled amortization, which make them more easily financeable in
todays market, said Adam Fox, Senior Director. The most challenging loans to
refinance are those that were originated in 2007, the peak of real estate
values. Borrowers will likely need to contribute additional equity to secure
financing for five-year loans, said Fox.

While not all loans will payoff at maturity, Fitch continues to observe a
willingness among commercial servicers to work with borrowers when property
performance is not an issue. Servicers are still reaching out to borrowers
early and if needed, providing short term forbearances to complete the refinance
process, added Fox.

The majority of maturities are expected in the first half of 2012, broken out as
follows by quarter:

–1Q12: $6.3 billion (43% office properties);

–2Q12: $5.1 billion (47% office properties);

–3Q12: $3.4 billion (31% retail properties);

–4Q12: $2.5 billion (45% retail properties).

Additional information is available in Fitchs weekly e-newsletter, US CMBS
Market Trends, which also contains recent rating actions and an overview of
newly released CMBS research, including Fitch presales and Focus reports. The
link below enables market participants to sign up to receive future issues of
the E-newsletter:

here
5736amp;rtype=mmamp;uid=Fitch

HARRISBURG, Pa., Aug. 26, 2011 /PRNewswire via COMTEX/ –
With Pennsylvania students from kindergarten to college heading back to school, adding financial literacy to your child’s curriculum this fall can teach invaluable skills for today and in the future.

“It’s never too early or too late to talk with your kids about personal finances,” said Mid-Atlantic Collectors Association Harry Strausser, III.

As outlined in USA Today’s special supplement on youth financial literacy, teaching children about saving, credit, debt, budgeting and discipline in managing their own finances is essential to growth and development. “From the very basic to the complex, parental involvement in helping their children better understand how to value and manage money is essential to helping them make successful financial decisions as they grow older,” said Chris Wunder, chair of the ACA International Education Foundation Board of Directors.

Helpful tips for talking to your children about financial management:

Be a role model. Parents, siblings and grandparents are important role models for teaching financial management to children. Lead by example.

Be honest. Building and maintaining trust with your child is essential. Admit mistakes and share how you learned from them.

Be interactive. Effective teaching is a two-way street. Talking and listening with real life examples is important.

Be patient. Some children may not immediately grasp the concepts you are teaching, but don’t give up on your teaching efforts.

Start with an allowance. For children, an allowance provides hands-on lessons in saving, spending, credit and budgeting.

ACA International Education Foundation is a 501(c) (3) nonprofit organization serving as the philanthropic arm of ACA International, the association of credit and collection professionals. The Foundation exists to promote the goal of increasing financial literacy in the United States. Outreach efforts include
www.askdoctordebt.com , which offers free, reliable answers to consumer questions and provides helpful resources.

The Mid-Atlantic Collectors Association is a Unit of ACA International representing Pennsylvania, Delaware and Maryland. ACA is the comprehensive, knowledge-based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members in the United States and abroad, and their more than 150,000 employees, including third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA establishes a wide variety of products, services and publications. For more information on ACA International, visit
www.acainternational.org .

Contact: Mark SchiffmanTel. (952) 259-2124 or schiffman@acainternational.org

SOURCE ACA International Education Foundation

Copyright (C) 2011 PR Newswire. All rights reserved

Alex “Papu” Rincon has spoken before business leaders from
across the state and even South America. On Thursday, he had a
chance to do it before an audience at the White House.

Rincon, the owner of fourOsix, a clothing and lifestyle store in
downtown Helena, sat alongside 10 others as a part of the White
House Champions of Change Roundtable.

The SBA’s 2011 Young Entrepreneur of the Year for Montana, spoke
about the creation of his store and his “Aha!” moment when he
decided to go into business for himself.

The presentation was held live at whitehouse.gov/live for viewers
around the world.

The White House’s focus was on youth entrepeneurship and how young
CEOs are making a positive economic impact in their communities.
The week’s event is part of a series of meetings that are being
held across the country this summer as part of the White House
Rural Council and the White House Business Council to coordinate
programs across government and encourage public-private
partnerships to improve economic conditions, quality of life and
create jobs in rural communities.

Rincon graduated in 2004 from Carroll College with a triple major,
including a bachelor’s degrees in business administration with a
special interest in marketing, management and international
business; Spanish language and literature; and a multi-disciplinary
major in visual arts with an interest in graphic design.

But, he told the crowd, it was while managing multiple retail
businesses that he decided to break out on his own.

Rincon opened his own retail store in 2007. His lifestyle shop 
promotes art, music, style, forward thinking and Montana
living.

The store’s primary purpose is to promote the “Montana” lifestyle
while contributing to local communities.  The ‘four0six’ branded
clothing line is manufactured in the USA, and printed locally in
Montana using environmentally safe practices and materials. 

“Alex Rincon represents how the vitality and innovation of
America’s youth create small businesses opportunities across the
country,” said Dan Hannaher, SBA Region VIII Regional
Administrator. “His commitment to business and community helps
produce jobs and inspires other young people to follow their
dreams.”

Interviews with Rincon are not expected until he returns home.
Messages to his cellphone were not returned.

Jeff Windmueller: 447-4005 or jeff.windmueller@helenair.com

Most Collier County property owners will see their taxes go down in 2012.

Residents will find out how much next week when Collier County Property Appraiser Abe Skinner mails out notices on Monday.

“Most taxing authorities in Collier are holding the line on taxes and most residential properties will see a slight decrease,” Skinner said today.

Skinner said Collier residents living close to the beach could see a slight increase, especially beachfront condo owners and those living in downtown Naples.

Skinner said property owners in Golden Gate will once again see their home values decrease — some by as much as 40 percent over last year.

“They took a beating last year and they’re going to take one again,” he said.

Overall, Skinner said, Collier will see close to a 5 percent decrease in taxable value.

If people are concerned about the appraised value of their home and don’t believe the value cited by the property appraiser is correct, Skinner urged them to make an appointment with his office to discuss it.

“There’s always a chance that we made a mistake,” he said.

Collier’s current countywide general fund tax rate is $3.56 for each $1,000 in property, or $712 for a $200,000 home.

Budgeting is such a turnoff that some financial professionals wont even use the term with clients.

But some budgeting websites aim to take the tedium out of money management. And the latest entry even tries to make a game of it with cash prizes.

Payoff.com, which helps users manage their way out of debt, officially launched at the end of June. You earn badges, like the Scouts, for making progress, and those trophies render you eligible to win money.

So far, Payoff said, it has disbursed $12,000 in $25 checks to members.

Nobody really tells you that you are doing a good job with your money, said Scott Saunders, Payoffs 35-year-old founder, who was in and out of debt in his early 20s. You only hear from the bank if you missed a payment or youre late.

We want to clap for people when they are doing the right thing.

If you dont know where your paycheck goes and financial planners say many of us dont an online budgeting site can help. The sites gather transaction data daily from credit cards and online bank accounts and then put expenditures in categories such as groceries and gas. Through pie charts or graphs, the sites show how you spend your dollars month after month.

Most sites are free for the consumer. To use them, though, you must provide usernames and passwords to your accounts. The sites say they have bank-quality security. Transactions are accessed on a read-only basis, so the sites cant be used to move money from account to account. The sites never ask for your Social Security number.

Jim Bruene, editor of Online Banking Report, said he knows of no security problems with the sites, although one now-defunct operation revealed users purchases to others.

Mint.com

One of the earliest and the most dominant budget site is four-year-old Mint.com. It was purchased two years ago by Intuit, the tax software company, and claims to have more than 6 million registered users.

Among them is Patrick Collins, a financial planner in Towson, Md. He has used Mint for years and advises his clients to do so, too.

Most people dont either enjoy or have the time to figure out their budget, he said. When you ask them to track three to six months worth of expenses, its a labor and a hard thing for them to do.

By having clients use Mint, Collins can quickly see what they spend money on and can make recommendations on where to cut back.

Faithful users say budgeting online works.

Lori Biancofiori of Chicago signed up for Mint after her wedding two years ago. The newlyweds used credit cards to partly pay for their nuptials, and later for living expenses when the groom lost his job after the honeymoon.

We were freaked out and had no money in savings. I needed to understand what we are spending our money on, said Biancofiori, a 33-year-old software trainer.

With Mint, she said, they discovered they spent hundreds of dollars a month eating out, even though their monthly grocery bill was $700.

It opened our eyes to everything we spend, said Biancofiori, who checks Mint daily. The couples goal now is to spend no more than $100 a month at restaurants. Mint lets them know when they approach their limit.

Making a game of it

There are about two dozen personal financial management sites, Bruene said, with some banks and credit unions adding such services, too. Some early entrants have shut down. But new ones have sprung up to replace them, adding some interesting twists.

Payoff, for instance, allows you to set goals and share your progress with friends who can cheer you on. Founder Saunders describes it as Weight Watchers for finances.

But the unique feature is the game aspect, something Payoff adopted after seeing millions of people playing social media games such as FarmVille.

The chance to win rewards increases consumers engagement, Saunders said, but doesnt make light of the fact that this is serious stuff.

Payoff investors include former presidents of Nordstrom and ATT, a former chief executive of Pimco Advisors and a Goldman Sachs executive.

Other twists

Bundle.com, which had a soft launch last year, also has some heavy-hitting investors: Citi, Microsoft and Morningstar. Bundle gets information on millions of transactions from Citi, which allows the site to tell you how your spending compares with others like you, Bundle editor Mike Dang said.

Sometimes you dont know how much you should be spending, Dang said. Seeing how you rate with others can help.

Bundle also is building a database that will allow you to compare costs at merchants and restaurants nationwide before visiting them, Dang said. Currently, Bundle has price information for New York and San Francisco. (Tip: Dont pick up the check at New Yorks Per Se, where dinner per couple costs $987, according to the site.)

Some sites are supported by advertisements, often by banks. HelloWallet.com is ad-free but charges $8.95 a month for budgeting tools and financial advice on how to reach your goals.

Without ads, HelloWallet community manager Arielle Cote-Colisson said, We are completely unbiased and not influenced by any banks and dont push any of their products.

HelloWallet, which started last year, markets its service to large employers as a benefit for their employees, although individuals can sign up on their own. The site offers a free one-month trial.

WASHINGTON — Arizonas colleges and universities will likely bear the brunt of budget cuts forced by rapidly rising health-care costs, the states budget director told a Washington audience Tuesday.

John Arnold, director of the Office of Strategic Planning and Budgeting, said that Medicaid and other health-care expenses are predicted to grow to as much as 40 percent of the state budget by 2015. That will force the state to cut higher education funding because there are few other options, he said.

It certainly seems to be on a collision course, Arnold said in a speech to an American Institute of Certified Public Accountants conference.

Higher education officials reacted to the news by saying that public universities are reaching a breaking point, after seeing their state funding reduced from $1.2 billion in fiscal 2008 to $682 million this year.

Schools cannot continue to raise tuition without significantly hurting enrollment, said Katie Paquet, spokeswoman for the Arizona Board of Regents.

Were going to start to have an access issue if state budgets continue to decline and were forced to continue to raise tuition, she said.

But higher education spending is where the Arizona Constitution allows the most flexibility, Arnold said in an interview after the speech.

The constitution says the state must provide higher education that is as nearly free as possible but does not specify spending requirements.

A spokesman for Gov. Jan Brewer said it is simply a fact that higher education is a large bucket when it comes to state funding.

Its something where the state has discretion in terms of cuts, said Matthew Benson, the spokesman.

State Rep. Tom Forese, R-Gilbert, said he is concerned by the idea of further cuts to higher education.

Were really putting ourselves in a position where were not going to be able to meet these unfunded federal mandates without taking part in several very bad positions, said Forese, the chairman of the House Higher Education, Innovation and Reform Committee.

State funding currently accounts for about a quarter of university and college revenues in the state, Arnold said.

Could we completely get out of university funding and still meet that constitutional requirement? I dont know, he said.

Paquet said the board of regents plans to submit a performance-based funding recommendation Oct. 1 with its fiscal 2013 budget request. The recommendation would include a baseline budget that would increase based on degrees granted, research activity and credit-hours earned by students.

We feel like thats a pretty bold move on our part, to say, Hey, of course we want revenues, but were willing for them to come to us based on meeting those performance goals, Paquet said.

Regents Chairman Fred DuVal wrote in an email that the state put correctional facilities spending and tax cuts ahead of education spending.

Pitting Medicaid against education is not a full disclosure of the choices, he wrote. If education is their fourth priority — they should just say so.

Arnold said some savings could be found in prison budgets, but they would be small because Arizonas prisons are already fiscally efficient.

Benson agreed that cuts to other areas would be hard to find.

When you look at things like public safety and corrections and things like that, theres difficulty in reducing spending in those areas, so higher education often has a target on its back, Benson said.

Before plunging into the whirl of an exciting new life at college, its smart to make some money-management vows to avoid a mess that could dampen the fun.

Be wary of overdraft protection, which allows purchases even if your account is empty. Fees for this service can be very high. It does make sense to have a credit card for backup — in case a hurricane strands you on the trip home, or your car loses a muffler. For this purpose, get a credit card with no annual fee.

Also be mindful that there are instances when its not a good idea to use your debit card as the first payment option.

Use the Internet

Most banks offer free online access to accounts, making it easy to keep track of cash in your checking account. In fact, you can probably have the bank automatically alert you by email or text message if the balance falls below a set level. Free services such as Mint.com can help you track multiple accounts in one place, and show how much you are spending in each category.

Budget

Budgeting seems like a boring task for people with jobs, mortgages and children, but its a good practice even if your parents are handling the big college expenses. With a simple budget, a list of expenses you can expect each month, you can avoid cash emergencies and wont be gnawed by guilt every time you buy a slice of pizza.

Dont be an early adopter

Its tempting to have the hottest phone, most powerful computer and coolest tablet, but you pay a big premium for cutting-edge features. If you dont really need those functions, keep your old devices a little longer or buy new ones without top-of-the-line glitz.

Borrow smart

These days, most students graduate with some debt. Its hard to avoid that, because college is so expensive. Student loans are often called good debt, because they lead to better jobs and a more interesting life.

Its that wonderful time of year where everyone is rushing to their mailboxes in high anticipation for a kind message from their County Treasurer telling you how much you owe in property taxes this year. Im pretty certain nobody feels this way. As your County Treasurer, I know receiving your tax statement is an annual inevitable displeasure, especially now days when money is tight in this rocky economy.

In our own homes we are doing the big and little things to make ends meet and we expect our government; local, state and federal to do the same. When you look at your tax statement you will see that your taxes go to your school district, city, county and more. Your school board, city council, county supervisors, state legislature and governor make the decisions that directly affect your property taxes. I urge all taxpayers to be informed on the issues that affect your taxes. Also, contact your government officials ask them to do what you are doing in your own household; prioritize programs and find efficiencies in those programs to provide better service and make ends meet.

Receiving your tax statement can also be confusing. The most common misunderstanding people have is the property tax schedule in accordance to your assessment. If you are a property owner, you should have received your 2011 Real Estate Assessment Roll in April. The value on the 2011 assessment will be the basis on your tax statement you receive next year. The assessed value on your tax statement you should have received in the past week is based on your 2010 valuation on taxes for the period of July 1, 2010 through June 30, 2011.

To simplify, just remember that the taxes you are paying now was calculated from the prior years assessment.

How property taxes are determined can be difficult to understand. There are assessments, rates, who pays, what the money goes towards, equalization, rollbacks, credits and more.

All of this information is explained in great detail, yet easy to understand on the Iowa Department of Revenues website at: www.iowa.gov/tax/educate/78573.html. I strongly recommend all property taxpayers to visit this website and become more familiar with the process.

You may also contact my office if you ever have any questions on this subject at 641-754-6366. We are open Monday through Friday, 8 am to 4:30 pm

The UK added itself to the growing list of governments seeking to cinch the noose on tax evaders hiding behind the secrecy imparted by Swiss banks, including UBS and Credit Suisse.

The Swiss banking system has thrived for decades on the back of the secrecy it provides to account holders. But with the US and Germany forcing these banks to reveal information about their citizens evading taxes, the banks have been losing their appeal among international customers.

The bilateral agreement struck by Chancellor George Osborne with the Swiss authorities is set to impinge the Swiss banking system further. ^[1] UBS is Switzerland’s largest bank in terms of assets, followed by Credit Suisse, both of which compete with the likes of Deutsche Bank’s, JPMorgan, Goldman Sachs, Citigroup and Morgan Stanley.

We maintain a $20 price estimate for UBS’ stock and a $48.60 price estimate for Credit Suisse’s stock. Our estimates are at a significant premium to their market prices as we believe the current price reflects the sentiments of a market which is reacting heavily to the deteriorating European debt situation combined with the uncertainty of impact of the recent downgrade of the US long-term credit rating on the world economy.

Switzerland is no longer a tax haven for many

Earlier this month, Germany settled its tax evasion dispute with Swiss banks with an agreement that will result in Swiss banks making a one-time payment of 2 billion francs. ($2.6 billion). ^[2] The German government intends to reimburse the banks from the anonymous lump-sum tax payment option it has offered to German citizens holding untaxed accounts at these banks. The agreement also imposes a 26.37% tax on future income and gains for these accounts.

The British agreement asks for an upfront settlement of £400 million ($650 million) from the banks, a one-time payment between 19% and 34% on untaxed accounts held in Switzerland in May 2013, and a tax of 48% on future income and 27% on future capital gains for British taxpayers holding undeclared accounts with the banks beginning in 2013. ^[1]

Notably, neither agreement requires the banks to divulge details about individual customer accounts – the banks are expected to deduct the applicable taxes and turn over the collected amount to the respective government as a lump sum.

UBS settled a tax evasion case with the US in 2009 for $780 million, and Credit Suisse is currently under a similar probe. (See Credit Suisse Should Settle Tax Probe to Clear Overhang)

But UBS and Credit Suisse clearly stand to lose

At the end of 2010, UBS managed more than $700 billion of assets from American clients and an additional $600 billion of assets from other international clients. Credit Suisse managed more than $500 billion in assets from clients outside Switzerland. This represents a combined portfolio of nearly $1.8 trillion in assets managed by the two banks for clients outside Switzerland.