When your home is on the lineMore and more lenders are offering home equity lines of credit. By using the equity in your home, you may qualify for a sizable amount of credit, available for use when and how you please, at an interest rate that is relatively low. Furthermore, under the tax law–depending on your specific situation–you may be allowed to deduct the interest because the debt is secured by your home.

More and more lenders are offering home equity lines of credit. By using the equity in your home, you may qualify for a sizable amount of credit, available for use when and how you please, at an interest rate that is relatively low. Furthermore, under the tax law–depending on your specific situation–you may be allowed to deduct the interest because the debt is secured by your home.If you are in the market for credit, a home equity plan may be right for you. Or perhaps another form of credit would be better. Before making a decision, you should weigh carefully the costs of a home equity line against the benefits. Shop for the credit terms that best meet your borrowing needs without posing undue financial risk. And remember, failure to repay the amounts you’ve borrowed, plus interest, could mean the loss of your home.

What is a home equity line of credit?

A home equity line of credit is a form of revolving credit in which your home serves as collateral. Because the home is likely to be a consumer’s largest asset, many homeowners use their credit lines only for major items such as education, home improvements, or medical bills and not for day-to-day expenses.

With a home equity line, you will be approved for a specific amount of credit–your credit limit, the maximum amount you may borrow at any one time under the plan. Many lenders set the credit limit on a home equity line by taking a percentage (say, 75 percent) of the home’s appraised value and subtracting from that the balance owed on the existing mortgage.

In determining your actual credit limit, the lender will also consider your ability to repay, by looking at your income, debts, and other financial obligations as well as your credit history.
Many home equity plans set a fixed period during which you can borrow money, such as 10 years. At the end of this “draw period,” you may be allowed to renew the credit line. If your plan does not allow renewals, you will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period (the “repayment period”), for example, 10 years.

Once approved for a home equity line of credit, you will most likely be able to borrow up to your credit limit whenever you want. Typically, you will use special checks to draw on your line. Under some plans, borrowers can use a credit card or other means to draw on the line.

There may be limitations on how you use the line. Some plans may require you to borrow a minimum amount each time you draw on the line (for example, $300) and to keep a minimum amount outstanding. Some plans may also require that you take an initial advance when the line is set up.

What should you look for when shopping for a plan?

If you decide to apply for a home equity line of credit, look for the plan that best meets your particular needs. Read the credit agreement carefully, and examine the terms and conditions of various plans, including the annual percentage rate (APR) and the costs of establishing the plan. The APR for a home equity line is based on the interest rate alone and will not reflect the closing costs and other fees and charges, so you’ll need to compare these costs, as well as the APRs, among lenders.

Interest rate charges and related plan features

Home equity lines of credit typically involve variable rather than fixed interest rates. The variable rate must be based on a publicly available index (such as the prime rate published in some major daily newspapers or a U.S. Treasury bill rate); the interest rate for borrowing under the home equity line changes, mirroring fluctuations in the value of the index. Most lenders cite the interest rate you will pay as the value of the index at a particular time plus a “margin,” such as 2 percentage points. Because the cost of borrowing is tied directly to the value of the index, it is important to find out which index is used, how often the value of the index changes, and how high it has risen in the past as well as the amount of the margin.

Lenders sometimes offer a temporarily discounted interest rate for home equity lines–a rate that is unusually low and may last for only an introductory period, such as 6 months.

Variable-rate plans secured by a dwelling must, by law, have a ceiling (or cap) on how much your interest rate may increase over the life of the plan. Some variable-rate plans limit how much your payment may increase and how low your interest rate may fall if interest rates drop.

Some lenders allow you to convert from a variable interest rate to a fixed rate during the life of the plan, or to convert all or a portion of your line to a fixed-term installment loan.

Plans generally permit the lender to freeze or reduce your credit line under certain circumstances. For example, some variable-rate plans may not allow you to draw additional funds during a period in which the interest rate reaches the cap.

Costs of establishing and maintaining a home equity line

Many of the costs of setting up a home equity line of credit are similar to those you pay when you buy a home. For example,

• A fee for a property appraisal to estimate the value of your home
• An application fee, which may not be refunded if you are turned down for credit
• Up-front charges, such as one or more points (one point equals 1 percent of the credit limit)
• Closing costs, including fees for attorneys, title search, and mortgage preparation and filing; property and title insurance; and taxes.

In addition, you may be subject to certain fees during the plan period, such as annual membership or maintenance fees and a transaction fee every time you draw on the credit line.

You could find yourself paying hundreds of dollars to establish the plan. If you were to draw only a small amount against your credit line, those initial charges would substantially increase the cost of the funds borrowed. On the other hand, because the lender’s risk is lower than for other forms of credit, as your home serves as collateral, annual percentage rates for home equity lines are generally lower than rates for other types of credit. The interest you save could offset the costs of establishing and maintaining the line. Moreover, some lenders waive some or all of the closing costs.

How will you repay your home equity plan?

Before entering into a plan, consider how you will pay back the money you borrow. Some plans set minimum payments that cover a portion of the principal (the amount you borrow) plus accrued interest. But (unlike with the typical installment loan) the portion that goes toward principal may not be enough to repay the principal by the end of the term. Other plans may allow payment of interest alone during the life of the plan, which means that you pay nothing toward the principal. If you borrow $10,000, you will owe that amount when the plan ends.

Regardless of the minimum required payment, you may choose to pay more, and many lenders offer a choice of payment options. Many consumers choose to pay down the principal regularly as they do with other loans. For example, if you use your line to buy a boat, you may want to pay it off as you would a typical boat loan.

Whatever your payment arrangements during the life of the plan–whether you pay some, a little, or none of the principal amount of the loan–when the plan ends you may have to pay the entire balance owed, all at once. You must be prepared to make this “balloon payment” by refinancing it with the lender, by obtaining a loan from another lender, or by some other means. If you are unable to make the balloon payment, you could lose your home.

If your plan has a variable interest rate, your monthly payments may change. Assume, for example, that you borrow $10,000 under a plan that calls for interest-only payments. At a 10 percent interest rate, your monthly payments would be $83. If the rate rises over time to 15 percent, your monthly payments will increase to $125. Similarly, if you are making payments that cover interest plus some portion of the principal, your monthly payments may increase, unless your agreement calls for keeping payments the same throughout the plan period.

If you sell your home, you will probably be required to pay off your home equity line in full immediately. If you are likely to sell your home in the near future, consider whether it makes sense to pay the up-front costs of setting up a line of credit. Also keep in mind that renting your home may be prohibited under the terms of your agreement.

Lines of credit vs. traditional second mortgage loans

If you are thinking about a home equity line of credit, you might also want to consider a traditional second mortgage loan. A second mortgage provides you with a fixed amount of money repayable over a fixed period. In most cases the payment schedule calls for equal payments that will pay off the entire loan within the loan period. You might consider a second mortgage instead of a home equity line if, for example, you need a set amount for a specific purpose, such as an addition to your home.

In deciding which type of loan best suits your needs, consider the costs under the two alternatives. Look at both the APR and other charges. Do not, however, simply compare the APRs, because the APRs on the two types of loans are figured differently:

• The APR for a traditional second mortgage loan takes into account the interest rate charged plus points and other finance charges.
• The APR for a home equity line of credit is based on the periodic interest rate alone. It does not include points or other charges.

Disclosures from lenders

The federal Truth in Lending Act requires lenders to disclose the important terms and costs of their home equity plans, including the APR, miscellaneous charges, the payment terms, and information about any variable-rate feature. And in general, neither the lender nor anyone else may charge a fee until after you have received this information. You usually get these disclosures when you receive an application form, and you will get additional disclosures before the plan is opened. If any term (other than a variable-rate feature) changes before the plan is opened, the lender must return all fees if you decide not to enter into the plan because of the change.

When you open a home equity line, the transaction puts your home at risk. If the home involved is your principal dwelling, the Truth in Lending Act gives you 3 days from the day the account was opened to cancel the credit line. This right allows you to change your mind for any reason. You simply inform the lender in writing within the 3-day period. The lender must then cancel its security interest in your home and return all fees–including any application and appraisal fees–paid to open the account.

sources: www.ftc.gov, www.federalreserve.gov

Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways.

You will find most loans come with variable interest rates, some come with attractive low introductory rates, and a few come with fixed rates. You also may find most loans have large one-time upfront fees, others have closing costs, and some have continuing costs, such as annual fees. You can find loans with large balloon payments at the end of the loan, and others with no balloons but with higher monthly payments.

No one loan is right for every homeowner. The challenge, then, is to contact different lenders, compare options, and select the home equity credit line best tailored to your needs.

Be sure to review the home equity contract carefully before you sign it. Do not hesitate to ask questions about the terms and conditions of your financing. To help you do this, you may want to consider the following questions and to use the checklist at the end of this brochure. (We apologize that the checklist is not available on-line. To obtain a copy of the checklist, please request a free copy of the brochure by contacting: Public Reference, Federal Trade Commission, Washington, D.C. 20580; (202) 326-2222. TDD call (202) 326-2502.)

Is a home equity credit line for you?

If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates. And they may provide you with certain tax advantages unavailable with other kinds of loans. (Check with your tax adviser for details.)

At the same time, home equity lines of credit require you to use your home as collateral for the loan. This may put your home at risk if you are late or cannot make your monthly payments. Those loans with a large final (balloon) payment may lead you to borrow more money to pay off this debt, or they may put your home in jeopardy if you cannot qualify for refinancing. And, if you sell your home, most plans require you to pay off your credit line at that time. In addition, because home equity loans give you relatively easy access to cash, you might find you borrow money more freely.

Remember too, there are other ways to borrow money from a lending institution. For example, you may want to explore second mortgage installment loans. Although these plans also place an additional mortgage on your home, second mortgage money usually is loaned in a lump sum, rather than in a series of advances made available by writing checks on an account. Also, second mortgages usually have fixed interest rates and fixed payment amounts.

You also may want to explore borrowing from credit lines that do not use your home as collateral. These are available with your credit cards or with unsecured credit lines that let you write checks as you need the money. In addition, you may want to ask about loans for specific items, such as cars or tuition.

How much money can you borrow on a home equity credit line?

Depending on your creditworthiness (your income, credit rating, etc.) and the amount of your outstanding debt, home equity lenders may let you borrow up to 85% of the appraised value of your home minus the amount you still owe on your first mortgage. Ask the lender about the length of the home equity loan, whether there is a minimum withdrawal requirement when you open your account, and whether there are minimum or maximum withdrawal requirements after your account is opened. Inquire how you gain access to your credit line — with checks, credit cards, or both.

Also, find out if your home equity plan sets a fixed time — a draw period — when you can make withdrawals from your account. Once the draw period expires, you may be able to renew your credit line. If you cannot, you will not be permitted to borrow additional funds. Also, in some plans, you may have to pay your full outstanding balance. In others, you may be able to repay the balance over a fixed time.

What is the interest rate on the home equity loan?

Interest rates for loans differ, so it pays to check with several lenders for the lowest rate. Compare the annual percentage rate (APR), which indicates the cost of credit on a yearly basis. Be aware that the advertised APR for home equity credit lines is based on interest alone. For a true comparison of credit costs, compare other charges, such as points and closing costs, which will add to the cost of your home equity loan. This is especially important if you are comparing a home equity credit line with a traditional installment (or second) mortgage, where the APR includes the total credit costs for the loan.

In addition, ask about the type of interest rates available for the home equity plan. Most home equity credit lines have variable interest rates. These variable rates may offer lower monthly payments at first, but during the rest of the repayment period the payments may change and may be higher. Fixed interest rates, if available, may be slightly higher initially than variable rates, but fixed rates offer stable monthly payments over the life of the credit line.

If you are considering a variable rate, check and compare the terms. Check the periodic cap, which is the limit on interest rate changes at one time. Also, check the lifetime cap, which is the limit on interest rate changes throughout the loan term. Ask the lender which index is used and how much and how often it can change. An index (such as the prime rate) is used by lenders to determine how much to raise or lower interest rates. Also, check the margin, which is an amount added to the index that determines the interest you are charged. In addition, inquire whether you can convert your variable rate loan to a fixed rate at some future time.

Sometimes, lenders offer a temporarily discounted interest rate — a rate that is unusually low and lasts only for an introductory period, such as six months. During this time, your monthly payments are lower too. After the introductory period ends, however, your rate (and payments) increase to the true market level (the index plus the margin). So, ask if the rate you are offered is “discounted,” and if so, find out how the rate will be determined at the end of the discount period and how much larger your payments could be at that time.

What are the upfront closing costs?

When you take out a home equity line of credit, you pay for many of the same expenses as when you financed your original mortgage. These include items such as an application fee, title search, appraisal, attorneys’ fees, and points (a percentage of the amount you borrow). These expenses can add substantially to the cost of your loan, especially if you ultimately borrow little from your credit line. You may want to negotiate with lenders to see if they will pay for some of these expenses.

What are the continuing costs?

In addition to upfront closing costs, some lenders require you to pay continuing fees throughout the life of the loan. These may include an annual membership or participation fee, which is due whether or not you use the account, and/or a transaction fee, which is charged each time you borrow money. These fees add to the overall cost of the loan.

What are the repayment terms during the loan?

As you pay back the loan, your payments may change if your credit line has a variable interest rate, even if you do not borrow more money from your account. Find out how often and how much your payments can change. You also will want to know whether you are paying back both principal and interest, or interest only. Even if you are paying back some principal, ask whether your monthly payments will cover the full amount borrowed or whether you will owe an additional payment of principal at the end of the loan. In addition, you may want to ask about penalties for late payments and under what conditions the lender can consider you in default and demand immediate full payment.

What are the repayment terms at the end of the loan?

Ask whether you might owe a large payment at the end of your loan term. If so, and you are not sure you will be able to afford the balloon payment, you may want to renegotiate your repayment terms. When you take out the loan, ask about the conditions for renewal of the plan or for refinancing the unpaid balance. Consider asking the lender to agree ahead of time and in writing to refinance any end-of-loan balance or extend your repayment time, if necessary.

What safeguards are built into the loan?

One of the best protections you have is the Federal Truth in Lending Act, which requires lenders to inform you about the terms and costs of the plan at the time you are given an application. Lenders must disclose the APR and payment terms and must inform you of charges to open or use the account, such as an appraisal, a credit report, or attorneys’ fees. Lenders also must tell you about any variable-rate feature and give you a brochure describing the general features of home equity plans.

The Truth in Lending Act also protects you from changes in the terms of the account (other than a variable-rate feature) before the plan is opened. If you decide not to enter into the plan because of a change in terms, all fees you paid earlier must be returned to you.

Because your home is at risk when you open a home equity credit account, you have three days to cancel the transaction, for any reason. To cancel, you must inform the lender in writing. Following that, your credit line must be cancelled and all fees you have paid must be returned.

Once your home equity plan is opened, if you pay as agreed, the lender, in most cases, may not terminate your plan, accelerate payment of your outstanding balance, or change the terms of your account. The lender may halt credit advances on your account during any period in which interest rates exceed the maximum rate cap in your agreement, if your contract permits this practice.

Mesothelioma lawyers deal specifically with cases concerning people being exposed to asbestos in the work environment. Asbestos was used as a building material years ago because it was not flammable and did not conduct electricity. However, later studies have shown it can cause some forms of cancer.

Mesothelioma, a form of cancer that affects the inner lining of the chest, is one of those forms of cancer. Because asbestos was a common building material and is still found, there has been a call for mesothelioma lawyers to look into cases of people who were exposed to asbestos and have been diagnosed with this form of cancer.

Mesothelioma lawyers deal specifically with cases concerning people being exposed to asbestos in the work environment. Because asbestos was a common building material and is still found, there has been a call for mesothelioma lawyers to look into cases of people who were exposed to asbestos and have been diagnosed with this form of cancer.

The Mesothelioma Lawyer and Asbestos Cases

Before asbestos was found to be a potential cause for cancer, it was seen as a great building material. Therefore it was used a lot, and both workers who installed it and employees who worked in these buildings were unknowingly exposed to a cancerous element.

These people are only now seeing the effects of their exposure to asbestos, and are bringing cases against the companies that either installed it or owned the buildings. The cases are increasing, causing a need for a specialized brand of lawyer - the mesothelioma lawyer.

Some types of asbestos that can cause cancer:

Amosite
Anthophyllite
Chrysotile
Crocidolite

Mesothelioma Lawyers and the Courtroom

Though has not yet been definitively proven that asbestos cause Mesothelioma, many studies have been done to prove a link between the two… enough studies to make mesothelioma lawyers very busy. The asbestos is made of loosely bonded fibers, which can easily be separated.

These fibers can float in the air and easily get into your respiratory system. Before these studies, when asbestos was used as a common material, no one suggested the need for proper safety procedures - a fact that mesothelioma lawyers point to as a reason their clients now have this form of cancer.

Want to learn more about Mesothelioma Lawyers and other types of lawyers? Research Lawyers is a collection of free articles related to law and lawyers.

Los Angeles County has over 39 Superior Courts, many of which handle DUI cases. If you were arrested in Los Angeles County for DUI, your case will usually be heard near the area of your arrest.

When you are choosing a Los Angeles DUI attorney, there are many considerations to guide your decision about which lawyer to hire. Every case and every person is unique and you need to carefully evaluate your situation when hiring a lawyer.

However, if you were arrested by the CHP for a violation on one of the area freeways, many cases are handled out of the downtown Los Angeles Criminal Court. If you are charged in Long Beach, for instance, having a Long Beach lawyer can work to your advantage. If you find a high quality criminal defense/dui attorney, they will know the judges and their policies and will use that knowledge to your advantage.

You should interview a perspective lawyer and ask about their educational background, their credentials, their experience, and their recent results in situations like yours. Comparison of two lawyers often will give you the best information to choose which Los Angeles DUI lawyer will best handle your case within your budget.

Los Angeles DUI Attorneys serve the following communities in Los Angeles County:

Agoura Hills, Alhambra, Arcadia, Artesia, Avalon, Azusa, Baldwin Park, Bellflower, Bell Gardens, Beverly Hills, Bradbury, Burbank, Calabasas, Carson, Cerritos, Claremont, Commerce, Compton, Covina, Cudahy, Culver City, Diamond Bar, Downey, Duarte, El Monte, El Segundo, Gardena, Glendale, Glendora, Hawaiian Gardens, Hawthorne, Hermosa Beach, Hidden Hills, Huntington Park, Industry, Inglewood, Irwindale, La Canada-Flintridge, La Habra, Lakewood, La Mirada, Lancaster, La Puente, La Verne, Lawndale, Lomita, Long Beach, Los Angeles, Lynwood, Malibu, Manhattan Beach, Maywood, Monrovia, Montebello, Monterey Park, Norwalk, Palmdale, Palos Verdes Estates, Paramount, Pasadena, Pico Rivera, Pomona, Rancho Palos Verdes, Redondo Beach, Rolling Hills, Rolling Hills Estates, Rosemead, San Dimas, San Fernando, San Gabriel, San Marino, Santa Clarita, Santa Fe Springs, Santa Monica, Sierra Madre, Signal Hill, South El Monte, South Gate, South Pasadena, Temple City, Torrance, Vernon, Walnut, West Covina, West Hollywood, Westlake Village and Whittier.

This article was originally published at http://www.duidefenselaws.com/california/los-angeles-dui-lawyers/
Copyright: Los Angeles DUI Lawyer
You can reproduce this article as long as you leave this copy right statement unchanged.

Contact us:
Ravi
dui@linkenablers.com

Auto insurance can be confusing and mind boggling sometimes and it’s hard to determine exactly why some individuals are receiving rates which are lower than others. There are many factors which contribute to the rate of auto insurance, some you have control over and others you don’t.

Below you will find valuable information regarding the factors which are compiled in order to determine the rate of your car insurance. These will help you understand important aspects of auto insurance and why some individuals receive higher rates than others. Here are the top five factors which auto insurance companies will consider when determining your rate of insurance:

1. Age – Your age will greatly affect the rate of your car insurance. Teenagers and individuals who are just beginning to drive will have higher rates for no reason other than their age. There is nothing you can do about this, as you get older and become a more experienced driver your rates will go down. Although they will go down, they will not stay down. When you reach a certain age your car insurance rates will go back up because you are an elderly driver and your eyes and coordination may not be as effective anymore.

2. Auto Insurance Companies – This is a factor which you have control over. Some car insurance companies offer lower rates than others for many reasons. It is up to you to choose which one will benefit you the most both now and in the long run.

3. Gender – Whether you are male or female will also affect the rate of your car insurance. This is yet another factor which you have no control over. Females generally have lower car insurance rates because according to insurance companies men are seen as potential dangerous and careless drivers who are more likely to be involved in car accidents.

4. Type of Vehicle – As much as we would all love to be driving a shiny silver Porsche Boxter all around town, the insurance rates for these types of vehicles are unreal. If you want your auto insurance rates to be low, I would suggest driving a car with a lower price tag. The more money your car is worth, the higher your car insurance rate will be.

5. Driving Violations – This is another factor which you have control over. I know how tempting it is to race your friends the moment you get your license for the first time, but the amount of money you will pay in the long run hardly seems worth it. Any form of ticket you receive can potentially raise the rate of your car insurance. If you want to pay less for car insurance I would suggest abiding by the rules of the road.

Although these are the most important factors in determining your rate of car insurance, there are many other factors which also play a part in how much you will pay. Auto insurance is something we all have to pay for, but by researching and understanding the aspects of this form of insurance you are learning how to reduce your rate to your best ability.

Bill Mason is a retired insurance agent who now writes as a freelance writer for http://www.insuranceguide101.com – a site that offers information on home owners insurance, auto insurance, low cost health insurance and more.

Starting a business can be one of the most exciting - and exhausting - ventures anyone can take part in. On one hand, you have the opportunity to build your dream trade - whether this involves manufacturing a product or providing a service. On the other hand, there’s a great deal to think about in terms of initially starting your business and effectively expanding its various components.

Moreover, you’re likely to experience a host of doubts regarding anything from small product details to large management endeavours. So, is there anyone you can turn to for dependable advice in making such vital decisions, while still ensuring that your business - and its core attributes - remain your own?

The answer is simple: there absolutely is. In fact, there are a number of resources that specialise in providing tailored advice and services for individuals who want to start their own business. For instance, in considering a business start-up, most people have a clear idea of the trade they’d like to pursue. However, many don’t initially consider the “unseen” aspects of a business - such as the legal sector. That’s exactly where specialised business support can help: you’ll gain assistance in areas where you already have clear objectives, as well as in fields which you’re still familiarising yourself with.

One way to do this is to invest in a tailored start-up package. These packages include everything you need to begin building your business, from expert advice on business law, accountancy and marketing, to essential business software to help you keep on top of your business finances and marketing strategies. You’ll even be assigned to your own business manager who’s familiar with your business vertical as well as the challenges you may face. Business start-up packages can help you make the most of your ideas, but they’ll also help ensure you don’t overlook any of the essential details. With comprehensive support, your idea of a dream business can materialise with an optimum outlook for success.

If you’re thinking of starting a small or medium business, there are plenty of financial institutions which can cater to your specific business needs, regarding everything from banking to marketing. And once your business is up and running, you can rest assured that there are suitable resources to help it grow. With the right kind of business support, you can place your energy where it counts most: towards providing a product or service you believe in and in which you can take pride.

Successful investors can predict where the market is going years before the rest of us. Like the clichés of selling ice to Eskimos (or the British version of selling coal to Newcastle), Richmond, Virginia-based Coal Baron E. Morgan Massey was five years ahead of the markets when he raised $75 million to develop coal mines in China’s Shanxi province in 2001.

As early as 1994, the seventies-something founder and chairman of A.T. Massey Coal, which has since evolved into Massey Energy (MEE), began planning to bring American-invented Longwall mining technology to China’s coal mines in Shanxi province. With his Chinese partners, Massey and Asian American Coal control about two billion tons of coal reserves.

It is Massey’s spin off coalbed methane (CBM) company Asian American Gas, which caught our eye. According to Shanxi News, the CBM output of a pilot well set a new national record, continuously producing 40,000 SCM per day (standard cubic meters). The new technology which created the new national record is something called “Multi-Lateral Drilling (MLD).”

Asian American Gas Chief Executive Zou Xiang Dong claimed the MLD technology helped the methane gas output for his wells on his company’s Panzhuang CBM block in Shanxi province jump by more than 40 times that of conventional vertical wells. Obviously the company is excited as four other MLD wells installed in the latter half of 2006. The company believes those wells might also have the potential to match the record production.The previous daily output record stood at 16,000 cubic meters.

China Celebrates Coalbed Methane

An inside look at China’s rapidly blossoming CBM industry is nothing if not electrifying. The world’s energy entrepreneurs have been rushing to China to take up the country’s state-owned methane gas company – China United Coalbed Methane Co (CUCBM) – on production-sharing contracts offered to foreign energy companies. Since its inception, CUCBM has signed 27 production-sharing contracts with CBM developers from the United States, Canada, Britain and Australia.

The largest publicly traded company, and among the first to participate, was Chevron Corp (CVX). But smaller firms have also joined in the hunt to develop China’s vast natural gas reserves. Far East Energy (FEEC) and Pacific Asia China Energy (PCEEF), have been awarded massive land concessions – on the order of the size of the state of Delaware. Many of these are home to rich coalbed methane reserves with thick, multi-level coal beds with high methane content. For example, U.S.-based Orion Energy was awarded a production-sharing contract on more than 460 square kilometers in the Sanjiao region of coal-rich Shanxi province. Volume is estimated at 60 billion cubic meters.

Typically, the foreign company assumes all the operational risk to verify the quantity of coalbed methane gas. Costs from exploration through to commercial production are borne by the foreign company. Pacific Asia China Energy vice president of exploration Dr. Marchioni told us that the positive side of this arrangement is that CUCBM would provide all of the coal exploration work, which he called quite satisfactory, and that his company’s main work was to confirm the Chinese coal exploration. In a previous article we discovered that the gas content both Far East Energy and Pacific Asia China Energy confirmed, during their drilling programs, compared well against the top coalbed methane producing regions in the U.S. and Canada.

The Chinese are not giving away their CBM reserves without taxation. The Chinese-foreign joint ventures are subject to five-percent value-added tax when they begin to exploit the coalbed methane gas. However, for the first two years such joint ventures show a profit, the companies will be exempt from the business income tax. For the third through fifth year, the tax rate will be cut by half. In order to encourage new technology, such as the Multi-Lateral Drilling Technology or Mitchell Drilling Services’ Dymaxion® drill rigs, the imported materials used for prospecting and development work are exempt from customs duties and the import regulation tax.

According to Yang Jian, an executive at China United Coalbed Methane, “The state encourages the development of this new energy, and there’s no restriction on foreign companies entering this field. With the good prospects, the expanded production of coalbed methane can be expected to happen soon.” Foreign companies have spent about $160 million exploring the concessions they were awarded. Yang pointed out that large Chinese companies, such as China National Petroleum Corp, were now entering CBM exploration. Shanxi province’s Eleventh 5-Year Plan is forecast to exceed $15 billion for CBM exploration, development and utilization.

China’s Killer Coal Gas Fuels Taxi Cabs

Holding the world’s record for coal mining deaths annually, the Chinese have looked upon coal gas as a dangerous nuisance. During coal mining, methane gas can cause explosions resulting in death and injury to the miners. China United Coalbed Methane Corp general manager Sun Maoyuan pointed out, “About 80 percent of casualties are attributed to these gas explosions, causing direct losses of $93 million each year.”

By extracting the gas – simply de-gasifying the coal mine before producing from it, deaths can be avoided and China can help power its economy with a ‘new’ energy source. One Chinese newspaper beat the drum for coal gas, writing, “As a ‘green’ energy source of good quality and high efficiency, coalbed methane has a promising future.”

Fuxin City in China’s Liaoning province is China’s first city to replace coal-made-gas with CBM. Coalbed methane now supplies more than 80,000 households and 1,000 taxis. Twenty-three year-old taxi driver Li Gang is happy about using compressed coal-bed methane in his cab. “I can save on half of my expenses for fuel each day,” he told Xinhua news service. One cubic meter of compressed CBM is the equivalent of 1.13 liters of gasoline, but retails for less than one-half the price of gasoline.

Starting in January, Jincheng City refitted about 90 percent of the city’s 1300 taxis to use both compressed CBM and gasoline. At China’s largest CBM exploitation base, Quinshui Basin, wells are operating at full capacity to help fuel factories, households and most importantly the city’s growing dependency on automobiles.

China hosts more than 30 trillion cubic meters of CBM reserves, according to the China Coal Information Research Institute, and ranks behind Russia and Canada for the world’s largest reserves. This much CBM is tantamount of 45 billion tons of standard coal. Some sixty percent of the methane gas is stored in coal beds below 1500 meters, which can easily be developed.

In 2004, China’s coal mines polluted the atmosphere by pumping out 14 billion cubic meters of coal gas. By accelerating coal mine development in China, the emissions problem will worsen. Some experts estimate more than 17 billion cubic meters will be released by 2020. Because of the global shortage of energy sources, the Chinese are now turning to CBM as a reliable substitute for conventional natural gas.

Following the extraordinary publicity about deaths from methane gas explosions in China’s coal mines, China’s State Council, introduced measures in 2005, to harness gas by developing CBM projects and de-gasifying mines. To intensify CBM exploitation, the State Council issued a 16-clause guideline, this past June, offering a number of preferential policies on land use and access of methane-generated electricity to local power grids. Because of the urgency to get CBM in broader use, two months later, the National Development and Reform Commission began measures to put the guidelines into practice.

New CBM Drilling Technologies Move China Forward

In the mid 1990s, China began exploring some of its vast CBM reserves. Inadequate investment and technology led to the formation of CUCBM. The state-owned CBM company began attracting foreign partners to invest in developing China’s CBM reserves and to bring with them new drilling technologies.

In 2005, China consumed 1 billion cubic meters of coalbed methane gas and was expected to use 1.4 billion cubic meters this past year. To date, more than 600 CBM wells have been sunk across China. Most remain in the exploration and pilot stages. New technologies brought to China through joint ventures with CUCBM could help accelerate development and dramatically increase the number of CBM wells

As we mentioned earlier, new CBM drilling technologies have arrived in China to advance many CBM projects more efficiently into production. With an eye to reduce cost and maximize efficiency, drilling technologies from the U.S. and Australia are being brought to China to expedite the emerging CBM sector.

Multi-Lateral Drilling Technology (MLT) offers solutions to tough economic climates and rough operating conditions. MLT has been used to recover ‘heavy oil’ deposits, such as those found in Canada or Venezuela. This technology has also found its way to the hostile North Sea to increase recoverable reserves from those oil fields.

Partly to reduce well construction costs, another advantage is to add incremental reserves and production rates to a project. Uneconomic projects could suddenly be made to work. When we spoke to Nathan Mitchell of Mitchell Drilling (Brisbane, Australia), he told us many previously sub-economic projects could become profitable by using his Dymaxion® drilling technology. Mitchell told us CBM extraction could drop to as low as $1.10/mcf, whereas others were struggling to extract for more than three or four times the cost.

Mitchell was quite excited to import his drilling technology to China through the company’s joint venture with Pacific Asia China Energy. The joint venture would have an exclusive to utilize the Dymaxion® technology in China for all CBM drilling and coal mine de-gasification projects. At a coal symposium in Guizhou province this past spring, Mitchell spoke of the numerous coal companies which expressed a high level of interest in his company’s drilling technology. From what we understand, the first such drill rig should shortly arrive in China.

Most MLT has been used for oil exploration projects. Noted, however, is that MTL may significantly impact reservoir spacing in deep, tight gas wells by helping to achieve optimal drainage spacing, which is impeded when drilling to deep reservoirs. By contrast, Mitchell has drilled more than 250 CBM wells in Australia and had moved forward with CBM drilling in India. This is the company’s first entry to China, where rugged terrain could test the efficiency of his system.

CBM Timing Coincident with China’s Red Hot Stock Market

China’s Shanghai stock exchange is now among the world’s best performing bourses. The Shanghai Composite Index now approaches 3,000, having hit a record high last week. Millions of Chinese have exited the frothy real estate market to trade stocks – more than triple the number of investment accounts were opened last year compared to 2005.

In July, commodities guru and best-selling author Jim Rogers told StockInterview he had cashed out of every other emerging market in the world and had invested heavily in China. China’s financial markets collapsed two years ago and have now returned with a vengeance. Remember 1999? That’s China today. According to the New York Times, one mutual fund raised $5 billion in a single day and some mutual fund managers are annually making more than $600,000 – in China!

What’s that have to do with CBM? At some point, and we have already heard of interest of such, Chinese investors could very well flock into the CBM companies we’ve written about. There is an irrational exuberance vibrating across China’s financial markets. But, this is also a country now attracting foreign investment. Asian Development Bank has injected $117 million into CBM development projects, Japanese banks have invested $20 million and National Investment Company of China has announced it would invest more than $300 million over the next seven years.

As more foreign capital comes to China for CBM projects, a scarcity of the best CBM projects could come about. As we have noted in previous articles, China’s race for energy security has become a global challenge for its economic growth. We expect many of the local industries and prefecture level cities could plan to deal directly with the Chinese-foreign joint ventures in securing their own gas supplies by direct investment in the foreign-owned companies. By partnering with the foreign-owned, publicly traded companies, their communities would ensure a reliable energy source.

Nearly half of China’s coal mines are rich in gas, but CBM remains undeveloped and still in its infancy in the world’s largest coal market. Last May, China’s National Development and Reform Commission approved a five-year plan to exploit coalbed methane. They plan to dramatically boost CBM output to 10 billion cubic meters by 2010.

In the back of our minds, we wonder what would happen should the aggressive Chinese investment community rush into CBM in the same way many North Americans and Australians have embraced the shares of uranium mining companies.

COPYRIGHT © 2007 by StockInterview, Inc. ALL RIGHTS RESERVED

James Finch contributes to StockInterview.com and other publications. His focus on the uranium mining and nuclear fuel sector resulted in the widely popular “Investing in the Great Uranium Bull Market,” which is now available on http://www.stockinterview.com and on http://www.amazon.com

quote

“Everything I buy is vintage and smells funny. Maybe that’s why I don’t have a boyfriend.” -Lucy Liu

biography

It’s in the Italian neighborhood of Queens, New York that Lucy Alexis Liu was born on December 2, 1968. Her childhood in Jackson Heights with her brother and sister resembled that of many immigrant families. Even though it was difficult, her Chinese parents, a biochemist and a civil engineer, raised their children the American way.

They also taught their children to speak both English and Mandarin, which caused Lucy to have an identity crisis during her days at Manhattan’s Stuyvesant High School. Still, she learned to accept herself and graduated in 1986.

lucy liu in school

After the summer, she enrolled in New York University. In spite of the school being a very distinguished establishment of higher learning, she found the place to be gloomy and cynical. As a result, she only stayed for a year.

For her sophomore year, Lucy went to Ann Arbor and joined the University of Michigan, where she studied singing, acting and dancing. She ultimately graduated with a degree in Asian languages and cultures.

lucy’s early tv roles

Lucy always knew she was artistic and, during her senior year of high school, she tried her hand at theater in Andre Gregory’s adaptation of Alice in Wonderland. This gave her a taste of what it’s like to be a professional actress and she quickly wanted more.

She moved to Los Angeles, where she supported herself by being a waitress. Before long, she landed a guest-starring part on Beverly Hills, 90210. Over the years, she made other guest appearances in shows such as L.A. Law, Coach, Home Improvement, ER, The X Files, High Incident, and NYPD Blue.

In 1993, Lucy’s collection of multimedia art pieces was showcased at the Cast Iron Gallery in SoHo. Because of that, she was awarded a grant to study art in China. Upon her return, the chronicles of her journey (photography, paints, ceramics, collages) were exhibited in a gallery in Venice, California.

lucy on ally mcbeal

Along with her early TV career, Liu landed roles in small movies. She was in the Hong Kong feature Rhythm of Destiny (1992), the early Darren Aronofsky film Protozoa (1993), Bang (1995), and she had a small role in Jerry Maguire (1996) as one of Jerry’s former girlfriends.

In 1996, Liu was also cast as a regular in the short-lived CBS sitcom Pearl, with Rhea Perlman and Malcolm McDowell. This secured her position in Hollywood and, in 1997, she was in five movies: Gridlock’d, City of Industry, Guy, Flypaper, and television’s Riot. After a small role in Mario Van Peebles’ Love Kills (1998), Lucy was introduced to mainstream America. She auditioned for the role of Nelle Porter on Ally McBeal, but Portia de Rossi got it instead. Nevertheless, writer-producer David E. Kelley noticed Lucy’s spunk and promised to write a character especially for her.

The character was Ling Woo, a fiery lawyer who never took no for an answer, and she was introduced in a September 1998 episode of Ally McBeal. Lucy was so riveting that she was invited to join the regular cast. She was nominated for an Emmy (as Outstanding Supporting Actress in a Comedy Series) in 1999 and stayed on until the show’s demise in 2002.

lucy the movie star

With her stock rising, Lucy was in demand and made several motion pictures. In 1999, she played a dominatrix in Payback with Mel Gibson, and appeared in Clint Eastwood’s True Crime, Molly, The Mating Habits of the Earthbound Human (with Carmen Electra), and the sports comedy Play It to the Bone, starring Antonio Banderas and Woody Harrelson.

lucy liu in charlie’s angels

Lucy’s next project was the action comedy Shanghai Noon (2000) with Jackie Chan and Owen Wilson. Shortly thereafter, she appeared in another blockbuster, the star-studded Charlie’s Angels (2000), in which she played one of the female leads alongside Cameron Diaz and Drew Barrymore.

Following the independent Mike Figgis film Hotel (2001), Liu teamed up with Antonio Banderas once more and starred as a government agent in Ballistic: Ecks vs. Sever (2002). After Cypher (2002) and a brief appearance in the Oscar-winning Chicago (2002), she joined the “Angels” again for Charlie’s Angels: Full Throttle (2003).

lucy liu in kill bill vol. 1

After that, she decided to slow down because her schedule was too hectic. Consequently, Lucy kept busy with only one movie — although it’s since been partitioned in two — Quentin Tarantino’s Kill Bill: Vol. 1 (2003) and Kill Bill: Vol. 2 (2004, in archived footage).

In 2005, she can add Domino, 3 Needles and Lucky Number Slevin to her resume.
 

askmen.com

There are countless reasons why you might choose to save your money:

If you have children, taking an early step by saving for their future is one of the wisest decisions you can make, especially if you plan to send them to university. But it’s always a good idea to have some money saved up in case of a sudden emergency. For example, if you or someone in your family were to experience serious illness, injury or unemployment, wouldn’t you want to have that piece of extra security standing by? And because saving is generally done over a long period of time, you won’t ‘miss’ your funds from your current income - as long as you start the process early!

If you’re thinking about opening a savings account, it’s important to do some research first. There are various types of savings accounts available; all of which suit different financial situations, so approaching the process with patience and a bit of knowledge will help you make the right decisions. The internet is a great resource to help you sort through your options - browse through a handful of bank and financial institution sites to obtain a breakdown of various account and savings options, as well as to get an idea of what each one offers; not to mention the time saved!

Instant access accounts, for example, are among the most popular types of savings accounts. While such accounts do not require any notice prior to withdrawing funds, they do offer ‘bonus’ savings should account owners refrain from making any withdrawals for a given period of time. This type of account allows you to save and accumulate interest while having peace of mind that funds are available in case of emergencies.

You can also choose to place your money into bonds. Bonds keep your money ‘locked’ away in a savings account for a specified amount of time while they accumulate interest. While this is a sure way of building capital, it does not allow the withdrawal of any savings for the ‘locked’ term and is therefore more suitable for those who have other means of financial support in case of emergencies.

While it may not seem like it, insurance is another powerful means of investment and saving. Certain policies of life insurance, for example, allow you to cash in on the capital which builds throughout your life before you die. And rest assured that you can gain ample guidance through consumer comparison sites if you’re considering insurance as a way to invest or save.

A number of banks and financial institutions offer excellent terms on saving accounts, bonds and insurance, as well as personal advice to help you make the right decisions. So don’t put off saving any longer; after all, you never know when - or why - you might need that little bit of extra cash.

According to the Department of Trade and Industry, it is estimated that 165,000 households in the UK are borrowing money from illegal sources, persons or bodies known as “loan sharks”. Essentially, loan sharks offer higher than normal interest rates to those individuals who are unable to obtain credit from conventional sources; and they often back their repayment claims with threats of violence or blackmail. Usury laws have, in the past, made the existence of loan sharks quite commonplace, while the figure of the loan shark has become widely represented in literature and on film. However, despite their negative representations, the current rate of people borrowing money from loan sharks in Britain is still surprisingly high.

The British government, however, have proposed to deal with this problem by pledging £1.2 billion, which will go towards providing extra enforcement teams in order to tackle the problem of illegal money lending, as well as helping to promote financial inclusion for disadvantaged groups. Glasgow and Birmingham have already implemented pioneering schemes to combat loan sharks in their respective areas and in addition, have started to pull together funding to build these projects and extend them to similarly blighted areas in Britain, including Sheffield, Liverpool and West Yorkshire.

Ed Balls, economic secretary to the Treasury, commented:

“This important project has helped give victims in the West Midlands the confidence to come forward, an awareness of better ways to borrow and helped us build evidence against loan sharks to help bring them to justice.”

According to the Department of Trade and Industry report, half of the 165,000 households that borrow money from loan sharks are in the UK’s most deprived areas; while the total value of money put forward by illegal money lenders in Britain each year amounts to nearly £40 million - with repayments amounting to over £120 million annually. According to Ian McCartney, a trade and industry minister:

“Loan sharks prey on the poorest people in our communities and use threats and violence to intimidate the people they are ripping off. These people are the lowest of the low and the pilot projects have done a fantastic job in getting loan sharks behind bars where they belong.”

Currently, the financial market in the UK means that there are a wide variety of loans. Thankfully there are also plenty of resources available that help consumers to compare these loans with a view to choosing the most appropriate for their circumstance. The new schemes, propelled by the government’s investment, will support the discovery of such legal alternatives for the victims of loan sharks - many of whom will have suffered violence and intimidation at the hands of these illegal moneylenders.

quote

“I don’t want to take fame for granted because that is when you start to think you are better than everyone else. That is when you start thinking that you are someone that you are not.” -Mandy Moore

biography

From the age of six, Amanda Leigh Moore knew she was going to be a star. Now, at the tender age of 15, this high school honor student is poised to become a great stage performer with her exceptional artistic ability and experience in the music business.

Mandy was born on April 10th 1984 in Nashua, New Hampshire. However, her family soon moved to Orlando, Florida where she currently resides. Moore started singing and acting when she attended a summer musical theater camp at the age of nine. She also spent seven years performing as a cheerleader for Pop Warner football. Her interest in showbusiness drove her to take voice lessons and audition for plays at local theaters. With her parents’ support, she eventually went on to co-star in a dozen plays.

Her route to fame started when she was named the “National Anthem Girl” because she sang The Star-Spangled Banner for all major sports teams and for Chris Evert’s Pro-Celebrity Tennis Tournament. She quickly became involved in national commercials, TV pilots and voice-overs, including the voice of “Ducky” for the Universal Studios California Land Before Time attraction.

She also entered the fashion world appearing as a model in a Mexican teen magazine. All this national exposure worried Mandy; she was afraid that her friends would be jealous and talk behind her back. But the opposite happened and she received their full support and still talks to them on a daily basis.

During the recording of a theme song for a TV pilot, she received an offer to complete a full demo by a producer who took notice of here. A talent scout came in when she was recording and sent an unfurnished demo to David McPherson, Senior Vice President of Urban A&R for Epic Records/550. McPherson liked what he heard and immediately flew down to hear the young star sing. After receiving a couple of other offers, the bright young star decided to sign a deal with Sony Music.

Moore is learning to play the guitar and eventually wants to write her own music. The young singer has already seen more of the business than most grown-ups, but it is merely the start of a promising career.

Here are other interesting tidbits on Mandy Moore.

www.articleavenue.com

In spite of the growing popularity of IP telephony, there are still many people who do not know what a VoIP phone is. What is the difference between a VoIP phone and an ordinary phone?

As far as you are concerned, probably not a lot. You can still use your own landline phone if need be, though in its simplest form there is no VoIP phone handset as such. Just a microphone and speakers will do. All you need is some software which is supplied by the provider.

You can use your normal land-line phone. Just like digital TV requires a box, either set-top or included in the set, VoIP needs a box which you can either buy yourself, or get from your VoIP provider. Once you connect your phone to the box and the box to your internet connection, you have your VoIP phone system using your own phone. Due to the connection speeds involved you have to have broadband or another high-speed internet connection.

Your telephone conversation passes through the internet in packets in the same way as any other file does. As you speak, your analogue voice signal is digitized by the VoIP software into binary form, and the digital stream broken up into small ‘packets’ which are sent through the internet. These packets each take their own fastest route through the internet, from computer to computer, till they reach their destination. This is the way that all files are sent through IP.

The problem with a streamed signal, such as a VoIP phone conversation, and a packet system, is that the packets do not always arrive in the correct order. This is due to the releative amount of internet traffic each packet comes up against, and the fact that they can each take different routes. Also, some packets are lost, or ‘dropped’.

Modern software is becoming increasingly better at arranging packets in the correct order (often through slight time delays which allow them to be rearranged) and covering up ‘dropped’ packets. VoIP phone conversations are therefore more audible now than they were in the early days of VoIP phone systems.

As I said, you can use your computer microphone and speakers to make and receive conversations, but you can also get a dedicated VoIP phone if you prefer. It’s all a matter of choice and does not significantly affect the services you can have.

Some of the services supplied free with VoIP phone systems are:

• Caller ID
• Call waiting
• Call forwarding
• Voicemail
• Conference calls
• Call transfer
• Group pick-up

Once you have your box, any calls you make to another VoIP are free – anywhere. For calls to non-VoIP phones there is a charge, but this is generally lower than normal land-line charges.

Your phone number relates to the adaptor, so you can take this with you and use it on any computer with fast internet connection. You can also buy a VoIP phone to go with your laptop and make telephone calls anywhere at any time; just as you can with a mobile, but at a fraction of the cost, and usually free to any other IP phone. This is an excellent inexpensive solution for businesses with a network of offices – all calls between them will be free throughout the world.

Another cool feature is virtual phone numbers. You can get local area numbers allocated to your regular phone number, so that if your family live in LA and you are in New York they can ring your LA local number with their landline and speak to you in New York at local rates. How cool is that!

A VoIP phone is now an attractive option for anyone, both as a cheap alternative to a mobile phone and as a complete replacement for a landline.

Peter Nisbet is an industrial chemist with a great interest in internet file transmission and reception systems and runs many websites including Data Voip Solutions where many aspects of VoIP phone services and systems are discussed.

If you’ve ever done a “dirty bulk” you’ll know that it isn’t the most efficient way of
building muscle. Sure, you might gain a heap of weight in a very short time,
but you’ll also end up looking like the michelin man. And that’s not why you
joined a gym in the first place, was it? If you wanted to do that, you could’ve
become a VIP over at McDonalds.

So what alternatives do you have? Is it really possible to build lean muscle?
Sure it is, you just have to be smart. And in the muscle building world, thats
pretty rare. There are a few things that you can do to ensure that the gains you
make will be lean. And by lean I mean mostly muscle. Unless you’re a genetic
freak, chances are you will find it hard to not put any fat on.

The things I’m about to mention are vital for building as much muscle as you
can, while putting on the least amount of fat that you can. How much of each
you gain will depend on mainly your body type (Nothing you can do about
that) and how smart you are about how you go about it. So lets have a look at
what will really help you build lean muscle tissue.

The first thing I’m going to mention is also the most important. If you don’t have
your diet in check, you may as well not even bother about turning up to the
gym. Seriously, most of the people who never see results, never see results
because of their poor diet. Theres an old saying in the muscle building world
that says how much you eat determines whether you gain or lose weight, but
what you eat determines what you gain or lose.

Read that previous sentence a couple of times. This really is the key to
building lean muscle. If you eat the right amount of food, and eat clean food,
you are well on your way to building slabs of hard, lean muscle.

The second key is to train as smart and as hard as you can. Might seem a bit
obvious, but most people don’t do this at all. If you think you need to change
your rep ranges, or the weight you’re lifting, you’re mistaken. Just continue to
lift like you normally would. Theres no difference at all. Stick to heavy,
compound movements. Keep on squatting, benching and you’ll be on the right
track to building all the lean muscle you want.

For more information on how to get your diet perfect and your workouts
efficient, either read the articles I’ve provided for you, or check out Sean
Nalewanyjs book by clicking the link on the right.

It’s a fact: around 20 per cent of marriages in the UK currently end in divorce and while many couples do attempt to remedy their situation by means of counselling or compromise, their efforts are unfortunately not always successful. Moreover, in reference to historical trends, this figure looks set to rise at a steady pace.

Divorce can take its toll on many areas of life, concerning anything from child custody to the emotional wellbeing of everyone involved. However, divorce carries much more than an emotional burden - it can also be one of the most costly expenditures for anyone to face.

The process of a divorce is undoubtedly expensive; in fact, most divorces cost anywhere between £15,000 - £50,000 in the form of divorce attorneys, moving expenses and property appraisers, among various other indispensable costs. However, most people are not financially prepared for such costs - let alone the emotional burden of a divorce, thus making the process tremendously stressful. But while a divorce can be one of the most difficult times in anyone’s life, there are certainly ways to alleviate the strain. Bearing in mind that the financial aspect of a divorce is often one of the most weighty, releasing equity through a secured loan may be a good place to start.

If an individual owns property that is worth more than the mortgage and other debts secured against it, the excess amount is known as equity. It’s possible to release equity in order to raise a lump sum of cash, which can in turn be used for anything from taking care of divorce expenses to settling outstanding debts. One way to release equity is to keep an existing mortgage while taking out a loan that’s secured against the equity in a property. This, in essence, allows borrowers to “unlock” and borrow funds against the value of their home. However, it’s also important to remember that when an individual obtains a secured loan, he or she agrees to offer their property as security for their loan.

Equity release plans can be complicated, not to mention a major step to take. Moreover, the asset in question when obtaining a secured loan is your home - therefore, good advice is essential. If you’re considering equity release through a secured loan to help with the costs of your divorce, rest assured that there are many secured loan specialists who can help arrange a suitable financial agreement. Furthermore, a specialist can help arrange fair deals for both people, factoring in all the relevant legal details. By taking unique circumstances into consideration, a secured loan can do wonders to alleviate the many financial pressures of a divorce.

In 2006, the growth of property prices in the UK stripped even the expectations of most property experts. A recent article in the Guardian newspaper, for example, highlighted that while many industry commentators predicted a 2 to 4 per cent rise in house prices in 2006, actual prices of property rose by almost 8 per cent. This year, prices are expected to rise at a slower rate - 3 to 6 per cent; but, as last year’s estimations show, a variety of factors could work to thwart this expectation.

Forecasts for the property market in 2007 attribute a variety of factors to its current buoyancy: these include the rise in single households, a deficiency of new housing stock and a rapidly ageing population. These particular issues have led to the current volatility of property prices, and they indicate a pattern that looks unlikely to fade in the next 12 months.

David Miles, chief UK economist at Morgan Stanley, has estimated that over the last ten years, house prices in Britain have risen by 112 per cent; conversely, real disposable income has increased by only 29 per cent. While this rise has been most prominent in the south-east of England, other parts of the UK have also been experiencing rises in property prices: according to Liam Bailey, head of residential research at Knight Frank, Northern Ireland and Scotland will see their house prices grow by 10 per cent and 9 per cent respectively in 2007.

One of the most significant consequences of this dramatic rise in house prices in the last decade is that it has made it much harder for first time buyers to enter the market. In fact, it has been estimated that only 36 per cent of mortgage approvals are currently for first time buyers, as opposed to 58 per cent in the early 1990s.

New research from Halifax suggests that first time buyers were actually paying over £150, 000 for property in 2006, as opposed to just over £137, 000 in 2005 - an 11 per cent increase in just a year. The study also found that in the last five years, house prices for first time buyers has risen by 95 per cent, from around £77, 000 in 2001. Worst affected are people looking to enter the property market in London, with the average first time buyer paying over £250, 000. Lancashire, on the other hand, offers first-time buyers the cheapest property.

As the needs of first-time buyers have become increasingly more important in this particular property climate, many mortgage providers have been offering specialist first-time buyer mortgages in order to allow this important demographic to gain a firm foothold on the property ladder. Indeed, a variety of different mortgage types have emerged, including capital raising mortgages, home-mover mortgages and debt consolidation mortgages, among a variety of others. So property buyers can always rest assured that they’ll be able to find appropriate mortgages for their needs, however much property prices may rise in 2007.

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“It’s strange, people I’ve been in relationships with haven’t been boob guys — it’s worried me a bit in the past.”
- Keeley Hazell

biography

Keeley Rebecca Hazell was born on September 18, 1986, in Lewisham, a suburb southeast of London, England. Raised in another nearby London suburb, Bromley, Keeley attended Bromley’s Ravensbourne School. When Keeley was 16, she left school to become an apprentice hairdresser, but she was already looking beyond beauty parlors and nursing ambitions to become a model.

Keeley wanted to be a Page 3 girl and pose topless on the inside pages of British tabloids like The Daily Star and The Sun. Keeley’s former art teacher tried to discourage her, saying that her breasts were too small; in any event, Page 3 girls had to be at least 18. But Keeley was anything but discouraged — her bust, as time would soon tell, was definitely growing. With the support of her hairdressing colleagues, she had some pictures taken of herself and entered The Daily Star’s “Search for a Beach Babe” contest, which she won.

keeley hazell is a page 3 idol

Keeley, who was anxious to quit hairdressing, wasn’t yet able to work as a full-time model, in spite of this early success. Too young for glamour modeling and too short for fashion modeling, Keeley enrolled in a fashion course at Lewisham College in early 2004. After six months, Keeley turned 18 and had her boyfriend take some pictures of her to submit to The Sun’s Page 3 Idol contest. A reader favorite, Keeley ended up winning in December 2004. Her prize included £10,000 worth of clothes and an exclusive one-year modeling contract with The Sun.

Keeley quickly became one of The Sun’s most popular Page 3 girls. Sculptor Leigh Heppell even made three bronze sculptures of Keeley’s breasts, two of which can be found in The Sun’s office (Keeley herself has the third in her house). While posing for The Sun, Keeley was represented by Girl Management, and then briefly by the Frank White Agency; she finally settled on agent Jon Fowler, who also represents George Michael and Kelly Brook. Once Keeley’s contract with The Sun expired, she began to get broader exposure.

keeley hazell on maxim’s cover

Keeley appeared on the cover of the June 2005 issue of Maxim, and in September, she did the same for FHM. In quick succession, Keeley graced the covers of many other British men’s magazines, including Loaded, Nuts and Zoo; she turned down an offer to pose for Playboy, though, stating that it wasn’t something she felt comfortable doing. Meanwhile, Keeley continued to pose for The Sun, as well as for its 2006 Page 3 wall calendar.

In early 2006, Keeley made headlines after English soccer star Joe Cole was beaten up at a party at her house. Despite rumors that the already engaged Cole had been hitting on Keeley, the altercation had nothing to do with her. She also had two publicized car crashes — one in 2005 and one in 2006.

keeley hazell in cashback

Keeley remains in high demand. She’s put out her own 2006 calendar and is now posing exclusively for Zoo and FHM.

Keeley — who has been taking drama and social psychology classes — had a minor role in the British movie Cashback (2006), a full-length version of a short film of the same name that was nominated for a 2004 Oscar.
 

askmen.com

The old world of stock-broking is changing rapidly: the practice of dealing in stocks and shares, for instance, is no longer purely the realm of high-flying financial executives, as greater numbers of ordinary people are taking part. However, perhaps the biggest innovation in modern trading of stocks and shares is the advent of the internet. Today, a number of online share dealings allow ordinary people to participate in the stock market without ever having to leave their homes.

Whether you’re interested in building your investment portfolio, or you’re simply looking for a tax efficient investment, trading in stocks and shares online is likely to be a good option for your financial needs. But if you’re seriously thinking about embarking on online share dealing, it’s important to first evaluate which product matches your investment goals.

Once you’ve done this, you will also need to assess your investment options in order to choose from a broad range of tradable products and investment applications. Many stock-broking sites will offer a variety of online trading products; from simple stocks, shares and funds to covered warrants and listed CDFs. Funds, for example, allow traders to diversify their investment portfolio and spread their risk. Investment notes, on the other hand, invest in bespoke, one-off products to diversify your portfolio, as well as generate income, limit risk and access investments that are not usually made available to investors.

If you’re a new investor in online share dealing, it’s also important for you to understand the types of risk that you can face. Market risk, for example, relates to factors that can affect the stock market as a whole, like rising interest rates, for example. Alternatively, unique risk relates to specific stocks and shares. A good investor will minimise his or her unique risk by a process of ‘diversification’, whereby an investment portfolio is spread over a range of stocks in different market sectors. This allows investors to spread their capital over a range of ventures.

If you’re looking to start trading in stocks and shares online, make sure you equip yourself with some basic knowledge before diving in at the deep end. This way, you’ll better understand where your investment is going. Many online share dealing sites will offer their own advice and guides to trading, as well as information on the range of investment products and accounts on offer. So novice investors can rest assured that they’ll always find the relevant advice and information appropriate to their investment needs.

Mortgages, loans and credit card debt have brought UK consumer debt to over £1 trillion. Yet each day, more and more people are finding themselves in financial difficulty which they cannot get out of - and this ever-worsening situation has led to a sharp rise in personal insolvencies, IVAs and bankruptcies.

Despite soaring profits, many banks and financial institutions are now discovering that they might not recoup the money that they have loaned to consumers. In efforts to meet their financial outgoings, many people are turning to secured loans in order to consolidate their debts into smaller monthly payments. However, these new loans are often paid over long periods of time, usually running into several years. If you find yourself in a situation where you’re struggling to make ends meet, it’s a wise idea to seek financial advice. There are many companies which can advise you on the best way to manage your debts, or you could consult your local Citizens Advice Bureau for help.

If you fall behind with your payments, your lender will usually try to contact you either by phone or letter in order to discuss your situation. It’s a wise idea to keep your lender informed of any changes in your financial circumstances, as lenders will often be more flexible if you fall on hard times. Burying your head in the sand often only makes matters worse in the long run, and avoiding paying what you owe can have severe consequences such as ever-increasing arrears or even bankruptcy.

If a lender cannot come to an agreement with you regarding repaying outstanding debts, they will often pass your debt over to a debt collection agency - this will remove the debt from their accounts receivable records. When this happens, the transaction is marked on your credit file and your account is placed in “default”. In some cases, debt purchasing companies, such as Capquest Debt Recovery will buy the debt from the original lender - often for a discounted price - and pursue you for the full balance of the debt.

Since not all customer debts will be collected, businesses typically record an allowance for bad debts which is subtracted from total accounts receivable. When accounts receivable are not paid, some companies turn them over to third party collection agencies who will attempt to recover the debt via negotiating payment plans, settlement offers or in some cases, legal action. Having a default on your credit file can make any future applications for credit more difficult, and multiple defaults or a County Court Judgement (CCJ) will make applying for credit impossible. A defaulted account shows on your credit file for a period of 6 years, whether the account is subsequently settled or not, while a CCJ will remain for 6 years also, unless it is paid within a month of issue.

Should you ever find yourself in a situation where you’re struggling financially, seek advice on how best to handle the circumstances before they escalate out of control. Burying your head in the sand will only make matters worse.

Peer to peer file sharing systems, otherwise known as P2P, connect people directly together on the internet. Some systems are true networked systems, in that there is a central server which acts as a central point to which all traffic is directed then distributed to the clients.

An excellent example of this is the original Napster. When someone wanted to download a particular track, they would enter it into a request box, much as with P2P software, then Napster would inform them what sites had the track or movie, then facilitate the download between two computers. Computer A would pass to Napster who would pass to computer B. In other words, if your joined Napster, you allowed the music files on your hard drive to be copied to Napster’s central server, then on to another of Napster’s customer’s hard drive. OpenNap was another, which copied Napster’s way of making money through file exchange.

However, this central server is what destroyed Napster, at least for a while. Once the central server could be identified as the single source of this file exchange, it was forced to close. And once the server closed, the whole system broke down. The Napster team eventually tugged their forelocks and began to operate using payment per track systems which developed to the Napster you now know, which is owned by software company Roxio.

Peer to peer file sharing took over Napster’s original role, but extended it from simply sharing music tracks. P2P provides an opportunity for new artists to have their work heard without the high costs of cutting disks or CDs and trying to promote them through other media. The beauty of P2P is that no moguls can take it over and dictate who and who cannot have their original music heard.

The difference between Peer to peer and Napster is that there is no central server with P2P. Every user of the software is connected directly to every other user. If you download music using a peer to peer system, you can be downloading from the hard drive of your next door neighbor, or somebody on the other side of the world. You will never know, unless you opt for a higher grade system. There is no central server to be shut down since you are in direct contact, so it cannot be stopped, even if made illegal.

P2P file sharing software is mainly sourced from the Gnutella design, and most companies that offer such services look very much the same. However, some have extended this to offer the bells and whistles that set them apart, such as faster downloads and the ability to converse with those you are connected to. There are other benefits to be gained from these subscription sites such as connections to other P2P movie and games download sites.

If you do not have burning software such as Nero, you can also download the software required to burn the files to CD or DVD directly from the software websites you are subscribing to.

The major players in the free peer to peer networks are Gnutella and Bittorrent. They work differently but both provide high quality downloads. If you want to take it a step forward, the subscription download programs, where you make a single life payment, can provide more functionality and interactivity as well as faster download speeds. Beware of free trials since these tend to come with adware and spyware, and the reason they are free, to my mind, is that the software companies are either using their own spyware, or receiving a payment for including it in the free package.

You can’t complain about what get free, but you can about what you pay for, which is why free software is not always the best option. The same, however, can be said of some regular or life subscription sites. Before you pay try the contact numbers. If you get no reply, either from email or phone, then don’t go near them.

All in all, assuming that you keep legal with copyright, peer to peer file sharing networks are the best way to listen to new music from up and coming artists, and to see movies made by new producers, directors and actors. It is also a great way to get some old games that you have never played before. I should also warn you not to download the current charts!

Peter is a research chemist who has an interest in file formats and codecs, and also of data transfer systems. He