Sharon J Hall

Frank and Susan Williams bought a house near Hamilton, Ont., this month, they followed a time-honoured tradition of using leveraged financing. With mortgage insurance they only had to put down 5% of the 0,000 purchase price. They went with a closed variable rate at 2.25% and amortized the loan over 35 years. The deal was initiated with a mortgage broker, with Bank of Nova Scotia providing the financing. “It’s a three-bedroom bungalow. That was attractive to us. We have a dog and we like to do things in the backyard. We did not have the type of money we thought we’d have to put into a house. We said let’s just bite the bullet and get this over with,” Ms. Williams says. And getting it over with was probably a good idea. First, they were in a rent-to-own arrangement and had to exercise their option to buy before August 2010. And second, based on pending federal rules for government-backed insured mortgages that come into effect on April 19, the Williams would probably not have qualified for the variable-rate mortgage.

In fact, as recent arrivals from the United States and its housing crisis, their credit history might not have passed any stress test. “We really came from the United States with nothing. Everything we had disappeared with the housing crisis. In areas that had bad loans all the houses just hit bottom. We were expecting US0,000 out of our house but we got nothing,” Ms. Williams says. They walked away from the whole mess. But while the Williams might have had good reasons for leveraging to get their dream home — they are firsttime buyers in Canada — the new federal rules governing mortgages have been widely misunderstood. In fact, the biggest fear among the young and house-less is fear itself. Under current mortgage-lending rules, buyers with a down payment of less than 20% of the purchase price must purchase mortgage insurance, with the most common source being Canadian Housing and Mortgage Corp. The new rules affect only customers that are required to purchase the insurance. Under the new rules, all buyers requiring mortgage insurance will have to meet the “ability to pay” for a higher, more expensive five-year fixed-rate mortgage even if they choose a mortgage with a lower interest rate and a shorter term. “It’s not just first-time homebuyers who are affected. It’s anyone who wants a variable mortgage rate now who doesn’t have one already, they now have to qualify at a higher interest rate. Some of them won’t qualify. And that’s fine so they’ll just take a fixed rate. It’s not the end of the world,” Ms. Wynhofen says. Bernice Dunsby, director of home equity financing at the Royal Bank, says the new rules might even help save first-time buyers from themselves. “We believe the new measures will have a small impact on mortgage growth, if any. First-time buyers should not be any more concerned about these changes. In fact, I believe the changes will actually help first-time homebuyers to ensure that not only can they afford their home today but in the future, especially if interest rates rise,” says Ms. Dunsby.

You need a basic investment strategy before you start investing. First, concentrate on asset allocation. Then keep your diversification (balance) on track as the years go by. Here’s an example of how to start investing with a sound investment strategy.

Drew decides to start investing, 00 a year for twenty years. He wants to keep his risk moderate to low, and figures if his money grows at 6% to 7% per year on average that he will have about 0,000 in 20 years.

First, he deals with the asset allocation issue. How does he divide up the 00 in various investment options? He decides to go with 1/3 in a safe investment that pays interest, 1/3 in bonds to get higher income, and 1/3 in stocks to get growth. This asset allocation makes Drew comfortable because it is a bit conservative and will give his portfolio considerable diversification.

If stocks have a rough time of it for a couple of years, he can ride it out while earning income on 2/3 of his money.

Plus, he will invest money in the amount of 00 a year, and doesn’t need to worry about timing the stock market.

Now, here’s an important part of Drew’s overall investment strategy he does not want to overlook. As the years pass his asset allocation will get off track, since each of his investment options will earn different returns.

For example, let’s say that in his first few years he averages 3% a year in his safe investment, 6% in his bonds, and 12% on average yearly in stocks. Drew looks at how much he has in each and sees that more than 1/3 of the total is now in stocks. The other two investment options each represent less than 1/3 of the total.

To get back on track (1/3 in each) his investment strategy requires him to move some money around, from stocks to the other two. In the future he will move money whenever he gets off track to keep the three investment options close to equal in value.

Ignoring your investments is poor money management. Drew does not want to just let things ride because he does not want to risk having much more than 1/3 of his money invested in stocks. At the same time, he does not want to have much less than 1/3 invested there either, because he needs some growth in order to average 6% to 7% overall in his investment portfolio.

Drew has made a financial commitment to himself to invest money. The only remaining problem is that he does not know how to pick stocks and bonds to invest in. Mutual funds are the simplest solution here. This way he has the advantage of professional money management and diversification within each of his investment options.

Very simply, he splits his money three ways: a money market fund, bond funds, and stock funds.

If Drew decides to get more aggressive or conservative along the way he can change his asset allocation to reflect this. Then he continues his basic investment strategy of keeping his new allocation on track whenever it gets out of line.

Prior to obtaining a mortgage, consumers generally seek to prequalify. This is the process of having a lender look at the consumer’s credit profile, debt to income ratio, and from there make an educated guess about how much money the lender is willing to give to the consumer as a mortgage loan. This is usually done before the consumer ever even starts looking at homes. For the majority of home shoppers, this prequalification actually determines the price range of homes they will focus on with their buyers’ agents. What is more, such a prequalification protects consumers from bidding for a house only to be disregarded because they lack a lender letter stating that this bidder is a serious contender and considered creditworthy by a lender.

Prospective home sellers want to see buyers who have already entered into discussion with a lender willing to write a mortgage loan for them.

This separates these consumers from others who might not be able to secure financing, and who may – while the buyer and seller are tied up in a transaction that will ultimately fall through – in the end be a costly mistake for the seller who sends other would-be buyers packing. While there are a number of mortgage calculators on the Internet, the only accurate means of discerning how much money a borrower can qualify for is through discussion with an actual lender. After all, even though the lending rules are fairly standard throughout the industry, different lenders offer different loans.

Moreover, some lenders may not offer the kinds of loans a consumer might find more profitable and which, in the long run, might allow her or him to buy more house for the money. This is especially true for borrowers who would like to buy more home at the onset than they have money for in the long run, but – because of future business growth – anticipate being able to afford the actual house payments in the future. Such loan products may include adjustable rate mortgages, balloon payments, and also low interest or interest only loans that for brief periods of time offer a set of payments easy on the pocketbook. In some cases there are even alternative means of financing that only lenders truly know about and can set up for their clients.

Prequalifying with a lender is quick and easy. Rather than submitting a whole loan application, the would-be borrower simply needs to disclose assets, liabilities, monthly payments, income from all sources, and consent to having a credit report pulled. The lender will evaluate these figures and based on the debt to income ratio and also the underwriting standards germane to that particular financial institution offer a figure which presents the upper cap of the loan the bank is likely willing to offer. In some cases they might even go so far as to calculate the interest rate the consumer might have to pay for the loan, which further influences the buying decision of future homebuyers who are ready to make the largest investment in their lives.

Because long-term care insurance (LTCI) is a relatively new product, policies are not standardized. This can make it especially difficult to compare policies when you’re shopping for this type of insurance. However, comparing LTCI policies is a lot easier when you know what to look for and follow a few simple guidelines.
Compare insurance companies
One of your first steps should be to compare and evaluate insurance companies. But since there are many companies that sell LTCI, how do you narrow the field down to a few good ones? You can start by talking to friends, family members, or anyone else you know who’s bought LTCI. How satisfied have these people been with their companies’ handling of claims and overall customer service? To learn more about company reputations, check out consumer websites and publications. You can also contact your state’s insurance department for information about different companies, such as customer complaints lodged within the last year.
In addition, there are private firms that make a business of rating insurance companies, usually on a letter-grade scale. Some of the well-known rating service firms are A. M. Best, Moody’s, The Street.com (formerly Weiss), Fitch, and Standard& Poor’s. You can contact one of these firms directly, though their ratings may be available at your local public library. The ratings are typically based on a company’s financial strength and other factors. Financial strength is particularly important because it tells you whether a company is likely to meet its future claims payments and other obligations.
Compare policy ins and outs
As mentioned, there is no standard LTCI policy or contract–specific benefits and features often vary widely from one policy to another. That’s why detailed policy comparisons are more important with LTCI than with any other type of insurance. Once you’ve narrowed your list of insurance companies down to a few (e.g., three or four), ask each company for some sample policies to review. Each sample should include an Outline of Coverage section at the beginning of the policy. This section briefly summarizes the policy’s benefits and highlights the major features. After you read this section, read through the entire policy to make sure you understand all of the provisions. Here are some key items to look for:
Waiting period: This is the period of time that must pass before the insurance company will begin to pay benefits. It can be anywhere from 0 to 365 days. You’ll be asked to select a waiting period–the shorter the period, the more the policy will cost.
Duration of benefits (known as the benefit period): You’ll also be asked to select a benefit period (e.g., two years or a lifetime)–the longer the period, the more costly the policy. Watch out for caps placed on the total lifetime benefits you can receive if the policy lets you carry over unused daily benefits beyond the scheduled benefit period.
Nursing home and home health-care daily benefit: This is the amount of coverage you select as your daily benefit limit (e.g., , 0).
Cost-of-living rider: This feature provides protection against loss of purchasing power due to inflation. It increases your coverage every year to keep pace with inflation (either based on the Consumer Price Index or at a fixed percentage rate).
Range of care: A policy may provide coverage for different levels of care, such as skilled, intermediate, and/or custodial. A good policy should cover all levels of care.
Pre-existing conditions: A waiting period (e.g., six months) may be imposed before you can receive coverage for any pre-existing conditions you might have.
Other exclusions: Some policies may not cover certain medical conditions (e.g., Alzheimer’s or Parkinson’s disease). Others may specify that you have to be in certain types of facilities.
Premium increases: Some policies may have a level premium for the period that the policy is in effect. In other cases, the premium may increase during the policy period.
Waiver of premium: Most policies waive your premium after you’ve received benefits for a certain number of days, but sometimes only if you’re receiving care in certain types of facilities.
Guaranteed renewability: Most policies give you the option to renew the policy and maintain your coverage, despite any changes in your health.
Grace period: Most policies give you a grace period if you’re late with a premium payment (usually 30 days). This means that the policy will remain in effect during that period.
Restoration of benefits: This is a feature that restores your benefits if you recover from your condition and do not require care for a consecutive period (e.g., 180 or 365 days).
Return of premium: You may be entitled to a return of premiums paid (or a nonforfeiture of benefits or a continuation of benefits for a limited period of time) if you cancel your policy after paying premiums for a number of years.
Prior hospitalization: Some policies require a hospital stay before you can qualify for benefits under the policy. This requirement is less common than it used to be, and you should probably avoid policies that include this provision.
How do the policies you’re considering stack up against each other? Which benefits and features mean the most to you? How much can you customize each policy to your needs? These are very important questions. Knowing how to evaluate LTCI coverage in light of your own needs is the key to comparing and weeding out policies. Your final list of policies should include only ones that can offer exactly what you’re looking for.
Compare premiums
Because LTCI policies vary so much, simple premium comparisons usually don’t provide useful results. You run the risk of comparing premiums for policies that don’t provide comparable coverage. For example, suppose you’re comparing two LTCI policies with different premiums. If the more expensive policy has a larger daily benefit and longer benefit period, it may be difficult to tell which policy is the better buy. Variations in the length of the elimination period and other features may further muddy the waters. The point is that you want a policy that gives you the best total value, and the premium is only one part of the equation.
Still, the premium is important because you don’t want to pay more for coverage than you have to. And you want to be sure you can afford the premiums as time goes on. Once you know your coverage needs and find a few policies that offer a good fit, you should then compare premiums. The price of an LTCI policy typically depends on the specifics of the coverage, your age at the time you buy the policy (most companies won’t sell you a policy if you’re under 40 or over 84), your medical history, the cost of long-term care where you live, and other factors. Note that premiums may vary widely between companies, even for policies that provide comparable coverage. The more similar the policies you’re comparing, the more the premium will tell you about a policy’s true value.
Consider getting help
Because LTCI is complicated, comparing and evaluating policies is no easy task. You can do it alone if you choose, but you’re probably better off getting professional help. A qualified insurance professional, or financial professional can assist you with this entire process. To find the right person to help you, seek word-of-mouth references and be very selective.

Mandom Corporation (4917) – Financial and Strategic Analysis Review

Mandom Corporation (Mandom) is a Japan-based cosmetic company. The company, through its subsidiaries and associate companies is engaged in the production and sale of cosmetics. Its product portfolio includes hair coloring products, shampoos, hair styling products, conditioners, creams, lotions, sun block and hair sprays. Mandom markets its products under the Gatsby, Lucido, GB, Tancho, Produce, LUCIDO-L, Simplity, BabyVeil, Treatia, Fraiche, Dr ReNaUD, courreges, Guinot, and Perfect Assist 24 and other brands. In addition, the company is also engaged in the insurance agency business, the management of buildings and the provision of consultation services.

This comprehensive SWOT profile of Mandom Corporation provides you an in-depth strategic analysis of the companys businesses and operations. The profile has been compiled to bring to you a clear and an unbiased view of the companys key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better.

This company report forms part of the Profile on Demand service, covering over 50,000 of the worlds leading companies. Once purchased, the highly qualified team of company analysts will comprehensively research and author a full financial and strategic analysis of Mandom Corporation including a detailed SWOT analysis, and deliver this direct to you in pdf format within two business days. (excluding weekends).

The profile contains critical company information including*,

- Business description A detailed description of the companys operations and business divisions.
- Corporate strategy Analysts summarization of the companys business strategy.
- SWOT Analysis A detailed analysis of the companys strengths, weakness, opportunities and threats.
- Company history Progression of key events associated with the company.
- Major products and services A list of major products, services and brands of the company.
- Key competitors A list of key competitors to the company.
- Key employees A list of the key executives of the company.
- Executive biographies A brief summary of the executives employment history.
- Key operational heads A list of personnel heading key departments/functions.
- Important locations and subsidiaries A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
- Interim ratios for the last five interim periods The latest financial ratios derived from the quarterly/semi-annual financial statements published by the company for 5 interims history.

Note*: Some sections may be missing if data is unavailable for the company.

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Equip yourself with information that enables you to sharpen your strategies and transform your operations profitably.
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Many seniors are struggling to make ends meat when they could have a perfectly viable alternative right at their fingertips. By using the reverse mortgage calculator at Legacy Reverse Mortgage, a senior can see not only that they qualify, but how much money they qualify for. Thanks to the new lower rates and a few changes in the reverse mortgage industry, more seniors can actually qualify for the reverse mortgage. The mortgage can be used for a number of purposes, but regardless of the need or the eventual use, the first step is to make sure that you are in fact qualified for the program.

The guidelines for the reverse mortgage include rules for age and ownership of the home itself. In addition, you have to be the resident of this home and in most cases cannot live somewhere else for longer than a few months. With the Home Equity Conversion mortgage or HECM, you must live in the home as your primary residence but are free to own other property, such as investment properties.

When you look at the Reverse Mortgage Calculator, you simply enter the answers to a few questions and then submit the form to get a full idea of what a loan of this kind could mean for you. If there is a reason that you would not be qualified, the reverse mortgage calculator would catch it before you go any further. For instance, one of the questions the calculator will ask you is for your birth date, so if you are too young to be legally qualified for this type of program, it will alert you to that fact.

The amount that you will qualify for will depend on the value of the home: the total amount owed cannot exceed the appraised value. A reverse mortgage does not have to be paid back unless you are going to move out of the house (such as after a sale) or when you will no longer be the primary owner or when you die. The estate will then be responsible for paying back the reverse mortgage should the estate wish to keep the home, either out of funds or by selling the home, just as with a traditional mortgage. This is not the case if there is still a surviving spouse in the home and covered by the reverse mortgage who can continue to live there as before without any change.

The use of the reverse mortgage calculator shows the approximate amount that you might be able to get from the value of your home, plus it allows you to see how much it might be as a monthly payment if that is how you choose to take the money.

Loan fees and closing costs are part of the original loan so the only upfront cost paid by the borrower might be the appraisal and third party counseling which vary in rates.