Car donation is a fantastic way to give to those less fortunate and more needy than you. In a time when money is tight for many, charity giving is one of the first things to get squeezed out.
Understandably we find it hard to justify giving to strangers, when our own children and grandchildren are in need. However, with a little creativity and thinking outside of the box, we can help those in need without having to open our wallet.
Making a used car donation is just that. If you are preparing to buy a new you have a few options with how to dispose of your old one.
You can scrap it, sell it, trade it in or give it away. Used charity car donation is a way to get rid of you old car and help others at the same time.
Thursday, September 14, 2006
what can I donate car?
At-risk teens face more life struggles in one day than most of us face in a lifetime.
Restore their hope and their education by making a donation of your car, truck, boat, plane or by donating your computer to America's Cars for Kids, a program of America Can!
America Can! academies provide a second-chance education for at-risk youth – kids who have significant social issues. Students learn in a non-threatening environment, receive focused attention, and complete their high school diploma.
Your car donation, boat donation, truck, plane or used computer donation can make a difference in the lives these kids.
Donate your vehicle (running or not) and show at-risk kids you believe in them. It's easy! We pick up the donated car, truck, boat, plane, and it's a great tax write off at no cost to you.
Let Us Help You!
Please give your vehicle even if it is not in running condition. We make all the arrangements to pick-up your vehicle at no cost to you. You can receive the full fair market value as a lawful IRS tax deduction for your vehicle ... Donate a vehicle today!
Restore their hope and their education by making a donation of your car, truck, boat, plane or by donating your computer to America's Cars for Kids, a program of America Can!
America Can! academies provide a second-chance education for at-risk youth – kids who have significant social issues. Students learn in a non-threatening environment, receive focused attention, and complete their high school diploma.
Your car donation, boat donation, truck, plane or used computer donation can make a difference in the lives these kids.
Donate your vehicle (running or not) and show at-risk kids you believe in them. It's easy! We pick up the donated car, truck, boat, plane, and it's a great tax write off at no cost to you.
Let Us Help You!
Please give your vehicle even if it is not in running condition. We make all the arrangements to pick-up your vehicle at no cost to you. You can receive the full fair market value as a lawful IRS tax deduction for your vehicle ... Donate a vehicle today!
Tuesday, September 12, 2006
What home equity debt is
A home equity loan or line of credit allows you to borrow money, using your home's equity as collateral.
First, some definitions:
Collateral is property that you pledge as a guarantee that you will repay a debt. If you don't repay the debt, the lender can take your collateral and sell it to get its money back. With a home equity loan or line of credit, you pledge your home as collateral. You can lose the home and be forced to move out if you don't repay the debt.
Equity is the difference between how much the home is worth and how much you owe on the mortgage (or mortgages, if you have more than one on the property).
Example:
Let's say you buy a house for $200,000. You make a down payment of $20,000 and borrow $180,000. The day you buy the house, your equity is the same as the down payment -- $20,000: $200,000 (home's purchase price) - $180,000 (amount owed) = $20,000 (equity).
Fast-forward five years. You have been making your monthly payments faithfully, and have paid down $13,000 of the mortgage debt, so you owe $167,000. During the same time, the value of the house has increased. Now it is worth $300,000. Your equity is $133,000: $300,000 (home's current appraised value) - $167,000 (amount owed) = $133,000 (equity)
Home equity loans and lines of credit usually are repaid in a shorter period than first mortgages. Most commonly, mortgages are set up to be repaid over 30 years. Equity loans and lines of credit often have a repayment period of 15 years, although it might be as short as five and as long as 30 years.
A home equity loan is a one-time lump sum that is paid off over a set amount of time, with a fixed interest rate and the same payments each month. Once you get the money, you cannot borrow further from the loan. Bankrate surveys home equity lenders and is a good source for current rates.
A home equity line of credit, or HELOC, works more like a credit card because it has a revolving balance. A HELOC allows you to borrow up to a certain amount for the life of the loan -- a time limit set by the lender. During that time, you can withdraw money as you need it. As you pay off the principal, you can use the credit again, like a credit card.
First, some definitions:
Collateral is property that you pledge as a guarantee that you will repay a debt. If you don't repay the debt, the lender can take your collateral and sell it to get its money back. With a home equity loan or line of credit, you pledge your home as collateral. You can lose the home and be forced to move out if you don't repay the debt.
Equity is the difference between how much the home is worth and how much you owe on the mortgage (or mortgages, if you have more than one on the property).
Example:
Let's say you buy a house for $200,000. You make a down payment of $20,000 and borrow $180,000. The day you buy the house, your equity is the same as the down payment -- $20,000: $200,000 (home's purchase price) - $180,000 (amount owed) = $20,000 (equity).
Fast-forward five years. You have been making your monthly payments faithfully, and have paid down $13,000 of the mortgage debt, so you owe $167,000. During the same time, the value of the house has increased. Now it is worth $300,000. Your equity is $133,000: $300,000 (home's current appraised value) - $167,000 (amount owed) = $133,000 (equity)
A home equity loan (or line of credit) is a second mortgage that lets you turn equity into cash, allowing you to spend it on home improvements, debt consolidation, college education or other expenses.
Equity loans, lines of credit defined
There are two types of home equity debt: home equity loans and home equity lines of credit, also known as HELOCs. Both are sometimes referred to as second mortgages, because they are secured by your property, just like the original, or primary, mortgage.Home equity loans and lines of credit usually are repaid in a shorter period than first mortgages. Most commonly, mortgages are set up to be repaid over 30 years. Equity loans and lines of credit often have a repayment period of 15 years, although it might be as short as five and as long as 30 years.
A home equity loan is a one-time lump sum that is paid off over a set amount of time, with a fixed interest rate and the same payments each month. Once you get the money, you cannot borrow further from the loan. Bankrate surveys home equity lenders and is a good source for current rates.
A home equity line of credit, or HELOC, works more like a credit card because it has a revolving balance. A HELOC allows you to borrow up to a certain amount for the life of the loan -- a time limit set by the lender. During that time, you can withdraw money as you need it. As you pay off the principal, you can use the credit again, like a credit card.
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