Income distribution – To make it in the top .1 percent you have to make $750,000 individually or $3,000,000 as a married couple.
There is deep psychological fascination with wealth in the United States. This goes back to the days of the Vanderbilt family and our modern day tycoons. It also brings to light how wide the income divergence in our country has become and with economic challenges being faced by many this disparity only gets more heightened. To become wealthy in the United States today takes a lot of money and not only a handful of dollars. To make it into the top levels of wealth six figures no longer cuts it. How much does it take? $200,000? $400,000? Well it actually depends on whether you are filing as a single person or married.
Income for the top .1 percent:
Source: Urban-Brooking Tax Policy Institute
I find the above extremely fascinating. A single person can make it into the top .1 percent with $750,000 yet a married couple will need close to $3 million to make it to this level. No matter how you slice it to be rich in America today takes a lot of cash.
If you enjoyed this post click here to subscribe to a complete ad free feed.
Popularity: 3% [?]
Food stamp nation – 44,200,000 Americans receiveing food assistance. The never leave home without it card.
There is something that should rub the American people wrong that 44,200,000 of their fellow comrades are receiving food stamp assistance in the midst of what is suppose to be an economic recovery. The recession was over officially in 2009 so there is an odd feeling when someone proclaims that we are on solid footing when such a large group of people are using food stamp plastic to buy already inflated groceries. And that is probably a perspective not being examined today. Government statistics for reasons that I do not think reflect actual spending, under report food costs even though this is likely to be consuming a larger portion of that debit card each month.
This is a chart that reflects a large pool of Americans one month away from being homeless or without food:
Source: Zero Hedge
If you enjoyed this post click here to subscribe to a complete ad free feed.
Popularity: 2% [?]
Thinking of a Jumbo Mortgage
Description: You have finally found the home of your dreams only to find out that it qualifies as a Jumbo home mortgage that of course is going to come with jumbo loan rates. It is possible that this may make you stop and think about whether or not you want to move forward with purchasing the home. By doing a little research, you are going to find that this is not as bad as it sounds. There are many different programs that you may be eligible for that can lessen the pain of paying higher rates than you may have expected.
If you are unsure about the process or what you are going to have to do, you will find that the assistance of a professional will be able to guide you in the right direction. This is going to be the person that will be able to find the programs that will assist with you jumbo home mortgage and help lower the jumbo loan rates as well. By taking advantage of every benefit that you can, you will be able to work around all of the rates and the payments to make it affordable for you.
Asking the right questions is also going to be very important to you as well. You need to know about fixed rates and adjustable loans so you can decided which type of loan you feel is going to benefit you the most. It is also important to know that with jumbo loan rates with a Jumbo home mortgage, you can also look into an interest only loan as well. Whether you are purchasing or refinancing is also going to play a role in the type of loan that you are going to get or that you are going to need.
It is important to understand that a jumbo home loan with Jumbo home mortgage is a high risk loan. Lenders are very cautious because of the risk that is involved so you may find that you have to jump through a few more hoops to make it happen. For example, many lenders will ask you to have several appraisals as opposed to one on the home that you are interested in. They are going to want to know that your home is worth the cost that is being asked and that it is up to selling standards. This is just going to be the beginning.
You are going to want all of the help that you can get with the entire process of getting your loan. With all of the changes that occur each and every day in the mortgage industry it is impossible for someone to keep up on it all unless you are a specialist in the field. When working with a jumbo home loan with Jumbo home mortgage, you want to work with someone that has dealings with this type of loan each and every day. This way you will know that you are going to have the best chance possible to get all of the programs that are available to you.
About Author: The writer of this article is Steve. He has made his mark by writing on loan issues especially on jumbo home mortgage. The author regularly writes on loans related issues like Jumbo Lenders, jumbo home loans, jumbo home mortgage etc.
If you enjoyed this post click here to subscribe to a complete ad free feed.
Popularity: 1% [?]