Insurance Policies : Which Do You Need, Which Should You Skip?

Insurance is protection against unexpected expenses and insurance policies are available for nearly any scenario you can envision -- even your own ransom. But just because an insurance policy is available, that doesn't mean you should buy it.

Some insurance policies give you good bang for the buck. Others are plain wasteful.

In this 3-minute segment from NBC's The Today Show, you'll hear of several common insurance policies and their relative merits to people of California who purchase them.

For example, Americans will spend an estimated $450 million on pet insurance this year. Because of the policies' restrictions and deductibles, though, it's an insurance policy that rarely pays off. This is one reason why financial experts often recommend that you pass on purchasing pet insurance.

Within the segment, other reviewed insurance policies include :

• Mobile phone insurance
• Flight and travel insurance
• Extended warranties for electronics
• Umbrella policies
• Renters insurance

There's also discussion about home warranties, and why you should avoid policies that last longer than one year.

Insurance should be an important part of your overall financial plan. However, the key is to have the proper policies in place, with an appropriate amount of coverage. Review your policies annually and keep your coverage current.  

Quick Tips : Boost Your Credit Score For Better Mortgage Rates

Credit scores play a huge role in today's mortgage market -- larger than at any time in recent history. Blame it on the high default rates of the last half-decade. Lenders are reserving their lowest rates for the customers most likely to make on-time repayments.

Mortgage rates are at an all-time low in California. However, the low rates you see advertised on TV and online are only available to the home buyers and would-be refinancers whose credit scores are pristine. Having a high credit score is often the difference between getting "the best rates" from your lender, and getting something worse.

The first part of improving your credit score is understanding how it works. In this 5-minute piece from NBC's The Today Show, you'll learn the basics :

• Why you shouldn't close a credit card after you pay off a large debt
• What is the maximize balance to leave on your credit cards, relative to your credit limit
• What types of credit checks harm your credit scores, and which ones don't

You'll also learn how to shop for a mortgage with multiple lenders without having your credit score "dinged", as well as several proven methods to raise your credit score quickly.

In the end, good credit scores are the result of paying bills on time and staying with your means. Those with the best scores, get the best rates.

Will Home Values Rise This Year?

Will your home gain value over the next 12 months? Nobody can know for sure, of course, but should recent housing trends continue, there's concrete cause for optimism.

The housing economy has suffered since 2007, knocking home values down nearly 20% nationwide. And while some areas have fared better as compared to others but, in general, home values are down. 

Mortgage rates are down, too, and that's good news for buyers. The combination of low rates and low prices has led home affordability to an all-time high. As you'll hear in this 4-minute interview with NBC's The Today Show, carrying a mortgage costs 25% less per month as compared to just 3 years ago.

Some other notes from the interview include :

• There are more buyers out looking for homes today, which leads to more sales
• The housing market is expected to get gradually better, month-by-month, in 2012
• Foreclosures will continue to be a big part of the housing market

With housing supplies shrinking, buyers throughout California may find their best "deals" today -- before the Spring Buying Season begins in February.

However, we can't forget that housing markets are local -- not national. Each town and neighborhood has its own market drivers and prices where you live may have already started to climb.

For accurate, up-to-date data on the housing market, talk with a local real estate agent. 

Using Home Generators? Here's How To Stay Safe.

Carbon monoxide is an odorless, colorless, poisonous gas. It kills more 400 people die in their homes each year.

Carbon monoxide poisoning is especially common during periods of power outage. This is because homeowners fire up their personal home power generators.

Home generators are a leading cause of poisoning by carbon monoxide and, in this 4-minute from NBC's The Today Show, you'll learn about home generators, how they operate, and the safety measures everyone homeowner should undertake.

A few basic home generator safety rules, as described in the interview, include :

• Never modify a generator or its engine
• Keep a 10-foot distance between the generator and your home
• Always point the generator's exhaust away from your home

Furthermore, make sure your home has an ample supply of carbon monoxide detectors, and that they're operational.

One of the video's highlights is clever illustration employing a vase of water and a dash of red dye. The demonstration shows just how few carbon monoxide particles are required to cause injury and/or death to a person in your household.

Therefore, if you own a home generator, take 4 minutes watch this video. Safety when home generators is paramount to your health.

Should I Refinance My Home?

With mortgage rates at all-time lows, you may be asking "Is now a good time to refinance?". This short interview from NBC's The Today Show offers good insight.

Refinancing a mortgage is about more than just "low rates". For example, there are costs associated with giving a new mortgage and even with the average, 30-year fixed rate mortgage near 4 percent, the costs of a such a move can outweigh the benefits -- both in the short- and long-term.

The video originally ran in September when mortgage rates averaged 4.09%. Rates are different today, but the offered advice remains relevant.

Some of the key points raised include :

• The lowest rates come with the highest costs. Consider a slightly higher-rate option from your bank.
• Falling home values may make it harder to qualify for a refinance in the future. Your best time to act may be now.
• If you're many years into a 30-year loan, you can consider switching to a 15-year mortgage to avoid "resetting" your term.

And, lastly, the interviewee makes a strong point that your refinance should save you enough money to make paying the closing costs "worth it". Make sure the break-even point on your closing costs versus your monthly savings occurs within a reasonable time frame.

At 4 minutes, the The Today Show video is short, but dense with quality information. For follow-up on whether a refinance makes sense for your situation, be sure to talk with your loan officer.

Fall Fix-Ups For Your Home

It's October and the fall season has officially started. For homeowners throughout California and nationwide, the change of season is a well-timed, "preventative maintenance" reminder.

As temperatures cool, there are a handful of do-it-yourself projects you should undertake in order to keep your home in tip-top shape through the winter. This 4-minute piece from NBC's The Today Show highlights just a few of them.

Calling it a "Fall Fix-Up Checklist", The Today Show's interview is fast-paced and wide-ranging. Some of the topics covered include :

• Pick up all fallen leaves to limit damage to grass and "critter" invasions
• Unclog gutters to protect windows and foundations
• Turn off outside water sources and remove water from pipes and hoses

The home-tip video also shares how to find air leaks in your home, and how to fix them. Reducing air leaks can lower your home's heating and cooling bills by thousands of dollars annually.

Although the highlighted projects are DIYs, you may feel more comfortable hiring a professional. Know your "handyman limits", and remain safe at all times.

Capitalize On Low Interest Rates In Overlooked Places

It's no secret. Rates are low right now. And, it's not just mortgage rates, either -- all types of rates are scraping rock-bottom. Borrowing rates, lending rates and savings rates are at or near their all-time lowest levels.

As a homeowner , one way to take capitalize on today's low rates is to apply to refinance your home. But there are other ways to take advantage, too.

In this 5-minute piece from NBC's The Today Show, you'll learn of a half-dozen ways to exploit the current rate environment, including:

• Refinance a car loan from a high rate to a low rate, for cheap, in an hour
• Balance transfers between credit cards with teaser rates lasting up to 20 months
• Move some savings to an "online" bank where savings rates are higher

The interview's theme is to examine both where you're spending and saving your money, and make sure you're doing what's best for your budget.

Federal Reserve Chairman Ben Bernanke has pledged to hold the Fed Funds Rate near 0.000% until at least 2013. So long as the Fed Funds Rate is low, there will be places you can save.

What Perks Does Your Favorite Credit Card Offer?

Last week, the Federal Reserve pledged to leave the Fed Funds Rate near 0.000 percent until at least mid-2013. For credit card holders in California who carry a monthly balance, this is good news. Because of the Fed's call, credit card rates are unlikely to rise before mid-2013.

But cardholders can save on more than just interest costs, as you'll learn from this two-and-a-half minute piece with NBC's The Today Show. In the interview, you'll hear about "built-in" perks offered by most credit cards and ways by which you can save on everyday goods and services.

For example, did you know your everyday credit card might offer:

• Travel perks : Automatic trip cancellation protection and car rental insurance.
• Shopping perks : Discount admission to concerts and museums; free shipping from overseas.
• Consumer perks : Price protection against a drop in price; insurance against theft; extended warranties.

And it's not just "high end" cards that offer these options, either. Credit cards of all types do what they can to improve consumer loyalty. Offering free perks is just one way in which they try.

Most credit cards offer websites detailing cardmember perks and benefits. Visit the site of your favorite card and see where you might save on everyday items.

How To Protect Your Home From The Influenza Virus

The 2010-2011 Flu Season has started and the Center for Disease Control expects that the H1N1 influenza virus (i.e "Swine Flu") will play a large role worldwide, as in 2009-2010. Last year, the virus reached pandemic status -- the first time that's happened in 40 years.

In public places, avoiding "germy" places can be difficult. But within your home, you can easily create germ-free spaces.  This 4-minute interview from NBC's The Today Show teaches about the flu virus, and how to protect yourself.

A few of the cleanliness tips shared include:

• Flu virus can live for up to 8 hours on a household surface
• Computer keyboards carry 400 times more bacteria than a toilet seat
• Make sure your cleaning tools (i.e. sponges, mops) are, themselves, clean

The video also shares tips for keeping a cleaner, safer home, plus facts on the influenza virus.

Stay clean, stay healthy, and consider vaccinations. The flu virus hospitalizes 200,000 people each year.

 

Better Credit Scores Get Better Mortgage Rates

This week marks the start of the Refi Boom's 7th month across California ; rates have been falling since early-April 2010. Whether you're looking to refinance or buy a home, however, know that not everyone will qualify for today's low rates.

Mortgage approvals are primarily based on good income, good equity and strong credit, and, without all three, the best rates of the day remain out of reach. Now, you can't always ask for a raise and equity is a function of the housing market, but you can do something about your credit score.

In this 4-minute segment from NBC's The Today Show, you learn some credit basics to help propel your score higher:

• There's no "quick fix" for credit. Time + Good Credit Behavior = Better FICOs.
• Pay every bill when it comes due. Even one late payment can damage your score.
• Don't close old credit cards

Also among the segment's advice is to stop worrying about whether rates have bottomed. Refinance today if it makes financial sense. Then, if, by chance, rates fall in the future, just refinance again.  Don't be greedy, we're told.

Avoiding Common Mortgage Scams

Despite tougher mortgage guidelines and better loan disclosures for consumers, mortgage fraud is on the rise, according to the FBI.

Fraud has many varieties and it's estimated cost to the nation is between $4-6 billion annually.  Today, common mortgage fraud scams target homeowners behind in their mortgage payments and/or facing foreclosure. And, despite the hordes of legitimate organizations that dedicate themselves to helping consumers, mortgage fraudsters proliferate.

In this 3-minute piece from NBC's The Today Show, you'll learn to spot common frauds, and to avoid them.

Some of the frauds highlighted include:

1. The Rent-to-Buy arrangement
2. The Bait-and-Switch
3. The "Phantom fees"

With respect to mortgage paperwork, it's always wise to read what you're signing, and to take time to understand what it means. If you're uncomfortable reading mortgage documents, ask for an attorney's help. And don't worry if you don't have the budget -- many states offer free or discounted help via advocacy groups.

Going On Vacation? Don't Tell The Burglars!

Want to help keep your home safe from burglars while on vacation? One smart way is to refrain from announcing your plans on various social networks such as Facebook. 

There's other common-sense tips, too, as shared in this 4-minute video from NBC's The Today Show.

Drawing from a series of interview with former convicts, you'll learn that there's more to keeping your home safe than just locking the doors and windows, and setting the alarm system for "away". You'll also want to make sure your home looks "lived in".

And some of these tricks you may have never thought of. 

For example, while on vacation:

• Make sure a neighbor is picking up your mail and newspapers daily
• If it snows, have a friend drive tracks in your driveway, or shovel it clean
• Set inside lights to a timer, giving the appearance someone being home

In addition, if you don't have a safe for valuables, consider moving them to a child's room. It's among the last places a burglar looks.

You can't make your home 100% safe from intruders but you can make your home a tougher target. Just use some common sense and follow the tips in the video.

Practical Advice : How To Help Your Home Sell Faster

In December, home sales reached an 8-month high, recovering from the losses of last summer. Market momentum is positive across California , but that doesn't mean every home is selling quickly -- only some of them are.

So, if you're a home seller and want (or need) to get your home sold quickly, take a listen to this 3-minute interview from NBC's The Today Show. It's loaded with practical sales advice for sellers.

As examples:

• How to price your home relative to comparable homes for sale
• Using home inspections to keep your contract on-track for closing
• How much should be spent on your "home photos" that are shown online

The interview also covers about the 3 key places of a home on which to spend money -- the kitchen, the living area, and the front facade. And for good reason -- they're emotional hooks for buyers that help sell homes.

In any market, selling a home can be a challenge. It can be easier by applying common sense.

Would Your Kitchen Pass A Health Inspection?

Americans spend a lot of time cooking and eating in their kitchens. What are you doing to keep yours germ- and bacteria-free?

In this two-part, 6-minute video from NBC's The Today Show, you'll first ride alongside a county health inspector as he visits a home and inspects its kitchen. The tested areas include the refrigerator, the cutting boards, the sponges, the utensils, the ovens, and more. Ultimately, the home "passes", but not before the inspector points out some problems from which we all can learn.

Then, in the video's second part, you'll learn how to keep your own kitchen clean and healthy.

• How much bleach to dilute to clean sinks, and how often to clean them
• Why "time-to-evaporate" is an important metric when shopping for disinfectants
• Comparing wood vs. glass vs. plastic cutting boards, and how to sanitize them, respectively

Keeping a germ-free kitchen requires constant attention and a routine cleaning schedule. Thankfully, it's a simple process. Follow the basic steps as outlined by The Today Show, and your home would pass inspection.

Don't Use Your Ladder's Top 2 Steps, And Other DIY Safety Tips

Home improvement projects are on the rise, according to the BuildFax Remodeling Index. For the 19th straight month, May's index rose, suggesting that homeowners are remodeling more frequently than in the past.

Do-it-yourself projects are on the rise, too.

If you're among the many homeowners forgoing paid contractors, be sure to follow basic safety precautions because, as this 5-minute video from NBC's The Today Show points out, a home remodeling "accident" could cost you more than the money saved on the project itself.

The interview gives several key tips:

• Use "expandable" earplugs to prevent hearing loss from power tools.
• Don't wear sneakers or sandals. Wear construction boots.
• Never stand on the top 2 steps of a ladder.

In addition, we're reminded to wear safety glasses always. Eye issues are the number one injury as reported by home remodelers, and accidents can happen anytime.

Watch the full video at the NBC website. And, f you feel your next home remodeling project is beyond your personal expertise, seek a professional's help. Call or email me for local recommendations.

 

How Healthy Is Your Bedroom?

Most people spend about one-third of their life in the bedroom. So, how healthy is yours?

In this 5-minute piece from NBC's The Today Show, you'll learn about dust mites, mold and the other hidden health risks in your bedroom. Some may be compriming your sleep, and others your well-being.

The interview is comprehensive and covers a lot of ground, including:

• The importance of an excellent vacuum with HEPA filters
• The advantage of latex pillows over other pillow-types
• Why blackout curtains can help reduce blood pressure

The piece also talks on several goods reasons to leave your bedroom electronics-free.

For as much time as we all spend in our respective bedrooms, we should want it to be a healthy, clean place. Following the video's advice is a step in the right direction.

Get That Last Drop Of Ketchup (And Other Household Money-Stretchers)

According to Consumer Reports, Americans waste as much as 25% of the products they purchase. From food to pharmaceuticals, pesky packaging is making it hard for consumers to use "the last drop" of the things they buy and, as such, products are thrown out prematurely.

It doesn't have to be that way. Using household tools and basic steps, you, too, can make less waste and stretch your household dollar. This 5-minute interview on NBC's The Today Show shows you how.

For example, you'll learn:

• How to get the last bit of ketchup from the jar (without adding water)
• How to get the last bit of hair gel from the plastic bottle
• How to get the last bit of body lotion from the bottom of the "pump" jar

Furthermore, you'll learn how to rescue over-ripe bananas.

The less you waste at home, the more money you'll save in the bank. Watch the video, take notes, and start making less waste.

The Psychological Tactics That Supermarkets Use On Customers

More than 50% of supermarket purchases are "impulse buys". You may not have known that, but the supermarkets do. And they've built their stores accordingly. A fool and his grocery cart are soon filled to the brim.

In this 6-minute video from NBC's The Today Show, you'll learn how supermarkets use everything from packaging to placement so that customers spend more of their money with each store visit.

Among the supermarkets' tricks:

• Placing flowers and bakery at the front of the store to "make you salivate"
• Specific "deal wording" (e.g. Buy 5 for $5.00) meant to entice larger purchases
• Placing staples on top and bottom shelves, leaving middle shelves for impulse products

The piece also recommends shopping a supermarket in a clockwise-fashion. It helps you spend less time in the store.

We're all mindful of our household budgets. Watch this video to save more money on your next trip for groceries.

What To Know Before You Move To A New Neighborhood

As home buyers , we tend to research homes a lot. We look at square footage; at upgrades; at landscaping; at community statistics; and, at every other "number" on which we can get our hands.

But those are just statistics. What about the home's "feel"? 

In this 5-minute piece from NBC's The Today Show, you'll learn a dozen complementary home-shopping techniques to help you review and evaluate a home for purchase. Each is focused on findings you won't see listed on a website.

For example, instead of scheduling your second showing for the same time of day as your first one, revisit a home during an "opposite" time. if you originally saw the home in daylight, go see it at nighttime. If you first saw a home on the weekend, go see it during the work week.

By seeing a home in two distinct settings, you can get a better feel for what the home and neighborhood are really like.

Some of the other tips from the video include:

1. Visit during Rush Hour and on a Saturday night. This will help you gauge sound levels of the street.
2. Go to Google Maps and study the aerial shot of the home. What's nearby?
3. Talk to neighbors. They'll share everything about the neighborhood with you -- good and bad.

When you buy a home, you committing to more than just the property. You're committing to the neighborhood, too. Armed with the methods described in this video, you'll be better prepared to make a good decision.

Do You Know What Questions To Ask Your Lender?

A mortgage comes with many moving pieces and understanding them is the key getting a great deal. Unfortunately, studies show that few Americans have a firm grasp of how mortgages work -- from mortgage types to mortgage fees.

In this back-to-basics interview on NBC's The Today Show, you'll learn some mortgage planning basics to help you get smarter with your next home loan -- purchase or refinance.

Some of the topics covered include:

• The mortgage applicants for whom adjustable-rate mortgages are a better choice than fixed-rate mortgages
• Why you should include "How Good Is This Lender?"-type questions in the rate shopping process
• What a pre-approval letter is good for, and what it is not good for

There is also one of the most simple explanations of "discount points" ever offered on network television.

The video runs 4-and-a-half minutes. For first-time buyers and experienced ones, it's worth a watch. You'll pick up some tips to use on your next mortgage.