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Mold/Water Damage History Could Kill Your Chances Of Buying A New House... Or Selling Your Current One! -plus- Could Your Credit Report Keep You From FLYING!?!?!? -plus- Dealing With The IRS...and Get A Free Copy Of Ben's Home Buyer Seminar Information
AIRDATE: Thursday, June 20, 2002
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You'd better make sure you can insure that house before you buy it!!! That's right, more and more insurance companies are refusing to insure homes because of their claims record. Actually, this is smart information that every potential home buyer needs to know...you want to know if you're buying a lemon of a house ahead of time, don't you??? Just like your driving record, insurance companies will look at the claims record of a property before they agree to insure it. So before you jump on that "great deal" you'd better do your homework [sorry for the bad pun] first; insurance companies will refuse to cover a property that's been the subject of multiple claims like water or storm damage...and if it's in a neighborhood that has burglary problems, this could also cause you some real insurability problems. According to the May 23, 2002 edition of The Wall Street Journal, the source for this new obstacle is the insurance industry's little secret...a claims history database called CLUE: The Comprehensive Loss Underwriting Exchange. Ben's Bottom Line? When you find a house you wanna buy, make sure that you require the current owner to provide you with a current CLUE report before you agree to buy the property and go hard with any cash. Here's a bunch of articles about CLUE if you wanna read more...
Wanna save some dough on your next trip? According to a new book entitled:
The Encyclopedia of Cheap Travel: 1,000 Companies, Consolidators, Agencies & Resources by Terrence Zepke. Some of the tips that I liked from the book? #1 The best time to call the airlines for rock-bottom fares is between 12 midnight and 1 am...plus you won't have to wait on hold for an operator forever! #2 Make hotel reservations on a Sunday and you'll pay the lowest rate of the week. But remember Dover's Golden Rule: You've gotta ask for the discount/best price!!! #3 Don't rent a car on a Wednesday! That's their highest price day of the week!
And speaking of your next trip...Could your credit report affect your ability to fly? Amazing, but the government is now looking into looking into you and your credit files, as part of the post-September 11th reaction to profiling/identifying terrorists before they strike. You'll be hearing more and more about the Transportation Security Agency [TSA] a government agency that's going to be gaining more and more power in the months and years ahead. Stay tuned as this story continues to unfold...
Just because your pharmacist hands you some "official looking" information with your next prescription does not mean you should believe everything you're reading! Question anything they give you in addition to your drugs and a bill; there are some aggressive marketing programs being executed by some of the big drug manufacturers and the big chains like Longs, Walgreen's, CVS, Rite Aid, Eckerd's etc. are participating. It's called "direct-to-patient" advertising in the industry...I call it devious and misleading. If you've got Adobe reader on your computer, you'll want to read this PDF file. [It'll open your eyes!]
Quit throwing money away on rent! Time to secure your position as an American by owning a piece of the American Dream...and becoming a homeowner: Interest rates look like they will continue to come down a bit; combine this the fact that many lenders are allowing you to take on higher mortgages [as a percentage of your income, they're allowing a higher-percentage of your monthly income to go to a house payment...a necessity for many because of the cost of real estate!].
Are you underground and hiding from the IRS or the state taxman? If it makes you feel any better...you're not alone! In fact, there are estimates that over 14 million people are "non-filers" so don't feel alone. It happens for a variety of reasons: Lost your job, lost your spouse--either in court or they passed away. Or something traumatic happened; it doesn't matter, but what does is that we get you back on track and in good standing with the IRS. [It's always gonna be better if you make the first move, not them!] You've heard me talk about The Schlichting Group; their name's not easy to pronounce, but their website is: www.slicktax.com Or give 'em a call toll-free: (877) 590-2500 and Jay [Schlichting, the big boy in charge] will give you a free half-hour consultation--over the phone, no less! Do something positive and get outta the crack; Jay and his team will protect you...and this goes for business owners behind on those damned 941 [payroll] taxes, too! Wanna know more?
Older consumers are easy targets for the scam artists...but everyone's at risk: And considering that our collective retirement portfolios are gonna be worth an estimated $10 trillion in the next decade, there's a lot of incentive for the bad guys to create new ways to separate you or someone you love from their dough. Here's a pretty good story that notes where the landmines for seniors--and all of us, frankly--are located and what we need to avoid.
If your auto insurance premiums have shot up, you're not alone! Especially if you're insured by Allstate, Farmer's or State Farm: Read Ben's archives and start saving some $$$ immediately! Down and dirty, here's a few simple steps you can follow right now to drop your costs...
1. Raise your deductible: Jacking it up to $500 or $1000 can save as much as 15-30% on your collision/comprehensive costs.
2. Drop collision/comprehensive coverage on older cars [they've gotta be paid off, of course]; why over-insure an older vehicle? It may not be worth it.
3. Keep your driving record clean. Duh.
4. Ask about other discounts: If you load up all of your business with one insurance company, they'd better give you a "deal" or take your business elsewhere. Other business like homeowners or renters, covering a second vehicle, a boat, etc. No deals? Then no deal...take your dollars elsewhere.
5. How old are you? Over 50 but under 65? Then you're a prime candidate for a discount. Ask and you shall [have a chance] at receiving!
6. Got a kid on your policy? Make them get good grades: A "B" average or better will get you a discount; if Junior won't hit the books, make them pay the higher premiums...maybe that'll instill a study-ethic they never knew they had!
7. What do you do for a living? If you're a teacher or have an advanced degree in engineering, math or science, statistics indicate that you're a lower risk. Ask for a discount. [Drug dealers and hookers probably shouldn't mention their professions if they're looking for lower rates.]
8. Is your kid in college? Then knock 'em off your policy if you can. Make them get their own coverage, and watch how much your premiums drop. [Life's a bitch when you're young and a risk in the eyes of the insurance company...but we all went through it, so tough luck. That part of growing up.]
9. Pay for minor stuff yourself!!! Keep nickel-and-dime-ing your carrier and forget about higher premiums...they'll just flat drop you!
10. Drive fewer miles: Commute in a carpool or public transportation and tell 'em about it. Lower miles = Lower exposure.
11. Pick a safer car. Makes sense, doesn't it?
12. Anti-theft devices will earn you brownie points and lower premiums: Not car alarms...but devices that help the cops track/find/recover the car. You know...LoJack or the OnStar technology. Alarms are increasingly less-effective...surprise!
Do not take your personal medical information lightly! How secure are your medical records? Not very...in fact what's really silly is which federal law covers the accuracy of our medical records. The Fair Credit Reporting Act. Sure it makes sense...not! Bottom line? Make sure you know what's in your medical files. Make sure you don't sign away your rights to privacy when you get bombed with paperwork from health care providers or your pharmacy. and if you don't want something put in your permanent records? Pay cash! Anytime you file a claim, it's in the file for good. Wanna know more? Check out the Health Privacy Project website by clicking here.
Could you be dosing yourself into a potential visit to the Emergency Room...or even the local cemetery or crematorium? Maybe...more and more over-the-counter medication choices exist than ever before. And with so many choices come the increased chances of negative interactions...from just over-the-counter meds or with what ever prescribed drugs you're supposed to be taking. Check out this terrific [and free!] website that'll help you do a little side-by-side comparing: www.bemedwise.com
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