Financial advice? Just ask Arlington - Irish Central Financial advice? Just ask Arlington - Irish Central

Wednesday, June 6, 2012

Financial advice? Just ask Arlington - Irish Central

Financial advice? Just ask Arlington - Irish Central

Irish Central Community News is pleased to continue with our bi-weekly financial column, courtesy of Sean O’Sullivan of Arlington Financial

Irish Central Community News is pleased to continue with our bi-weekly financial column, courtesy of Sean O’Sullivan of Arlington Financial. This time around Sean tackles FHA Loans.

FHA loans have been helping people become homeowners since 1934. How do they do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.

• Low down payments

• Low closing costs

• Easy credit qualifying

No minimum credit score – FHA does not have a minimum credit score requirement. The FHA underwriter will evaluate the entire credit profile to determine the borrower’s likelihood of repayment. Past credit issues may be overlooked if new credit has been re-established. Also, other compensating factors may apply. For example in place of conventional credit, alternate credit references are accepted, normally four references for 12 months or more. Alternate credit would be for example utility references from your electric, gas, oil, home phone, cell phone, car insurance, cable TV suppliers, etc.

• Bankruptcy okay – Chapter 7 bankruptcies are allowed if discharged over 2 years ago (or 1 year with extenuating circumstances). Chapter 13 bankruptcies are allowed with a minimum of 1 year of on time plan repayment and trustee approval.

• Little Money Needed - FHA loans allow the seller to pay up to 6% of the sales price toward the closing costs. On 1 to 4 family units and Condo’s, your down-payment can be as little as 3.5% of the purchase price.

• Housing History– FHA does not require a rental or other housing history if it is not available.

• Non-occupying co-borrower allowed – FHA allows a non-occupying relative to co-sign the mortgage. The non-occupant’s income and assets can be used for qualification purposes.

• Want a fixer-upper? - FHA has a loan that allows you to buy a home that’s in poor condition, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

• Property types – 1 to 4 family units, condos, town homes, modular homes, and manufactured homes. Unfortunately Co-op’s are not allowed.

• No cash reserves required – Unlike most conventional loans, FHA does not require you to have cash reserves on 1 to 2 family unit properties. However, having reserves can help strengthen the overall credit profile.

For any additional information, or questions regarding other subject matter, contact Sean O’Sullivan at Arlington Financial. Phone: 914-793-1122, email:

Ideal Financial Solutions Releases New Member Center Hub for White Label Partnerships -

LAS VEGAS, June 6, 2012 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (OTCBB:IFSL), the creator and provider of various financial products and services for businesses and individuals, has announced the release of its proprietary Member Center Hub, designed to enhance the performance of its white label partnerships. The innovative site design allows the partner to fully brand its own Ideal Financial-powered web B-2-C portal while leveraging and controlling the customer relationship.

"Ideal Financial has been highly successful in the past by providing club and member center sites directly to consumers through our B-2-C model," stated Ideal Financial President Chris Sunyich. "By creating this powerful, fully branded vehicle we simultaneously increase our partner's value to their customers and our appeal to even more enterprise partners."

"The platform will be connected to the IFSL database and our new Customer Relationship Management (CRM) platform allowing for continued growth within the customer service division. This alignment will provide us with valuable information to better serve our customer which then enables them to better serve the end user," stated Sunyich. "This is also another successful roll-out of a highly targeted, proprietarily designed software system by our team of designers and engineers."

"Unfortunately, to preserve the integrity of the white label partnerships, we will not be able to provide a live demo site for the general public," said Sunyich. "Interested potential enterprise partners are invited to contact us regarding the opportunity."

About Ideal Financial Solutions

Based in Las Vegas, Nevada, Ideal Financial Solutions ( ) provides the education, support and automated tools to create additional cash resources, rapidly eliminate all non-asset-building debt and build financial independence. As a leader in financial services, Ideal uses its automated CashFlow Management© tools and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence. Select the following links to view more information on Ideal's brands such as Ideal Financial HR, Ideal Cash Secrets and Please connect with us on Linkedin or Twitter. For investors who would like to receive Ideal's newsletter, please send your email address to:

An Ideal Financial Solutions Investor Presentation is available online at

For the latest news and press, please visit .

IFSL's new XBRL/SEC portal provides access to filings and more at

A copy of the investor presentation also is attached hereto. The information contained in this press release, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under Section 18.

Forward Looking Statements. This release may contain forward-looking statements as well as historical information. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks include, without limitation, the risk that the company's revenues will not grow as projected; that increases in marketing or other expenses may increase more rapidly than revenues; that any recent positive trends in the company's financial position may be reversed because of declines in revenues, increases in costs and/or unexpected liability event. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein.

CONTACT: Ideal Financial Solutions, Inc.          Paul Currie 678-772-3456

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Black money: Pawar backs Ramdev, says no politics - Hindustan Times
Welcoming Ramdev's campaign against black money, NCP chief and agriculture minister Sharad Pawar on Tuesday said the yoga guru's suggestions to tackle the menace were "pragmatic". Pawar's remarks came after an hour-long meeting with Ramdev here during which the two discussed ways to unearth black money and enact laws that make stashing of cash impossible.

This is a major embarrassment for the Congress, as key UPA ally Sharad Pawar has expressed his support for Baba Ramdev a day after the Prime Minister Manmohan Singh and Congress President Sonia Gandhi hit out at the civil society for targeting the Prime Minister.

"Ramdev made suggestions like enacting such tax laws that do not make a person necessary to hide his wealth. Such wealth can be used for various development purposes," Pawar told reporters after meeting the yoga guru.

The minister said he did not "smell politics" in Ramdev's campaign as he has announced that he will meet leaders of all political parties ranging from Congress chief Sonia Gandhi, CPI(M) general secretary Prakash Karat to AIADMK supremo Jayalalithaa and SP chief Mulayam Singh Yadav.

"He (Ramdev) has said he will meet responsible leaders in all the states and important persons who take key decisions.

He has done one good thing that he has not spoken of any one party. He has talked about all parties and we liked this approach," Pawar said.

Pawar is among the 15 Union ministers against whom Team Anna has leveled allegations of corruptions.

Morning business round-up: Spain denies imminent bailout - BBC News

What made the business news in Asia and Europe this morning? Here's our daily business round-up:

Spain's economy minister has dampened speculation that the country is about to seek a bailout of its bank sector.

Luis de Guindos said no decision would be made until audits of the banks were completed, possibly by the end of June.

There have been reports in the past few days that Spain is seeking an immediate bailout from eurozone funds.

Also on Wednesday, the European Commission unveiled proposals designed to stop taxpayers' money being used to bail out failed banks.

The aim is to ensure losses are borne by bank shareholders and creditors and minimise costs for taxpayers.

Meanwhile, ratings agency Moody's has cut the credit ratings of six German banks and three in Austria.

The biggest bank affected was Commerzbank, Germany's second-biggest lender, which was cut to A3 from A2.

"Today's rating actions are driven by the increased risk of further shocks emanating from the euro area debt crisis," Moody's said.

Official figures have confirmed the eurozone economy achieved zero growth in the first three months of 2012.

The second estimate of gross domestic product also said there had been no growth in the wider 27-nation EU in the period.

The eurozone economy contracted in the last three months of 2011, so the zero growth means it has just managed to avoid recession.

Business headlines

Australia's economy grew by more-than-expected in the first three months of the year, allaying fears of a global slowdown hurting its growth.

The economy grew by 1.3% during the period from the previous three months. Analysts had projected a 0.5% expansion.

Compared with the same period last year, the economy grew by 4.3%.

There have been fears that slowing global demand for commodities and a stagnant domestic market may hurt Australia's growth.

Abu Dhabi's Etihad Airways has bought a 4% stake in Virgin Australia, in an attempt to expand its global presence.

Etihad said it had acquired the stake for $35.6m (£23.1m) and added that it was keen to raise its holding in Virgin Australia to as much as 10%.

It is the fourth time since December last year that Etihad has bought a stake in another airline.

In the UK, growth in the construction sector slowed to a three-month low in May. The Markit/CIPS purchasing managers' index (PMI) for construction fell to 54.4 last month, from 55.8 in April.

However, the reading indicates that the sector is still growing, as a figure above 50 implies expansion.

Office for National Statistics figures found a fall in construction output in the first quarter of 2012 contributed to the overall economy contracting.

Drinks giant Diageo has announced it is to invest £1bn in Scotch whisky production over the next five years.

The company said it would build a new distillery in Speyside or the Highlands and would draw up plans for a second if demand was sufficient.

New warehouses to store the Scotch will also be built.

In the latest Business Daily podcast Apple's former advertising director Ken Segall says the firm's success is down to keeping things simple, while economist Pedro Schwartz discusses Spain's latest efforts to raise capital for its banks.

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