Home Business Tips - Be Careful of Those Millionaire Programs

I have to admit, the one site I saw today was really slick. The sales page was designed by a real pro and the audio voiceover was obviously done by somebody with a ton of experience doing voiceover work. However, this all has nothing to do with the quality of the program itself, sad to say. So in order for you not to think you've just found the pot of gold at the end of the rainbow, this article is going to explain to you why you have to be careful of those millionaire programs. Hopefully, this advice will keep you from making some serious mistakes in choosing a home business.

The first thing you have to be careful of is when you see anything on the sales page that guarantees you an income. For one thing, the FTC has very strict rules about this. You are not allowed to guarantee any earnings whatsoever as it is always possible to fail with a home business. These sites that promise you all this money are there for just one reason...to take YOUR money. So don't let them.

The next thing you have to be careful of is when the sales page starts telling you how easy it is. I hate to have to tell you this but making a living from home is not all that easy. A lot of work goes into what I do. I put in long hours and sometimes long weeks. If there is a push button method to earning a living on the Internet, I have yet to find it. Good luck finding yours.

Another flashing red light is when you see testimonials on the page and no names are given. Anybody can make up testimonials. Sure, you can make up names and addresses as well. I understand that. But ideally, what you want to look for are testimonials with photos. And then check to see that those photos aren't stock photos that are all over the Internet.

Finally, you want to check to see if there is a way to contact the person who put up the site. You will find my email address on every sales page of mine. If you don't see a way to contact the person, that is a red light to stay away. Most likely, if you put in for a refund...if there's even a way to do it...you'll never hear back from the person. Always make sure there is contact info.

It's dangerous out there, plain and simple. So you need to do your research on any program that you're thinking of joining. Heck,. check with the BBB if you have to in order to see if there are any complaints. Just don't go into a business blindly.

It may cost you more than just a few bucks.

To YOUR Success,

Steven Wagenheim

Looking for a solid 4 step plan to building your own business...FREE? Pick up my free report at http://www.stevewagenheim.com/4steps.html and get started TODAY!

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A Second Mortgage is the Second Loan You Have Secured Against Your Home

A second mortgage is the second loan you have secured against your home. A second loan can be taken by home owners for any reason they might need the money for. Owning your own home makes it easy to loan money as you can secure the loan against your home.

Most home owners use this money to renovate their homes. As this loan is usually a large amount of money it will be able to pay for all the work that has to be done. It is worth the expense of the loan to have all the repairs done on your home.

Second mortgages have this name because they are the second loan that you have taken from a bank that is secured against your home. The first loan financed the purchase of your home. This loan will take many years to pay off and once you have added another loan to pay off you might find difficulty later on in paying them both off.

It is always wise to first make sure that there is no other way out for you to get access to cash than to take this loan. It will cost you a lot as the interest is higher on this loan than on the first one.

If you take a second mortgage on your home it is very risky as you will then have two loans secured against your home. The first loan is the one with which you purchased your home. If at any time got into financial difficulty and could no longer pay off the loans you could lose your home to the bank or building society.

Lee Van writes informative articles on various subjects including Second Mortgages http://www.secondmortgagessite.com

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Home Equity Line vs. Second Mortgage

Many homeowners today confuse home equity loans with second mortgages. Second mortgages and home equity loans can be used for the purpose of cashing out equity in your home; however, there are fundamental differences between the two.

When lenders use the term “home equity loan,” they are most likely referring to a home equity line of credit. A home equity line of credit is not a mortgage. It is simply a line of credit that allows you to write checks or use a debit card against the value of equity in your home. A mortgage on the other hand, pays out a lump sum upon closing and has a fixed repayment schedule. Second mortgage loans are typically 15 to 30 year loans with adjustable or fixed interest rates.

Home equity lines of credit are more like credit cards. When you qualify for a home equity loan, the lender considers the amount of equity you have in your home. Home equity lines of credit offer convenience and ease of access to your equity. This comes at a premium however; home equity loans carry much higher interest rates than second mortgages.

Second mortgages are good for homeowners with specific requirements for their money. This could include paying for a child’s tuition, building an addition to your home, or even taking a vacation. The flexibility of a home equity loan allows you to borrow the money when you need it. You could save money by borrowing less and paying it back quickly using a home equity loan. The problem is many homeowners are tempted into spending money they would not have spent if it was not so easily available.

Louie Latour has twenty years of experience in the mortgage industry as a mortgage broker. He is the owner of Mortgage Refinance Advisor, a mortgage resource site devoted to saving homeowners money with a free guidebook “Five Things You Need to Know Before Refinancing a Mortgage.” http://www.refiadvisor.com

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