Archive for June, 2009

ICI News on the invoice

June 28th, 2009

Published in the Official Journal of 30 March, the ministerial decree approving the new model to be used for the payment of municipal property tax, which sees eliminated the discount on additional ICI for the first home.

C on the ministerial decree of 25 March, the new model incorporates the provisions of the current account dictated by DL 93/2008. Are thus eliminated the boxes that enable the taxpayer to report the amount of the further deduction of the primary residence.

The report, which is valid from 2009, is used for both direct payments payable to the Municipality where the buildings are located, and for those affected through the “foster-service recovery.”

Taxpayers will also pay the tax using the telemetric service Italian Post Office, who will issue, in addition to confirmation of this, even the virtual image of the module (or communication in text format) with all data entered on the property. It will be up to the Italian Post Office to send to the common owner of the account printed copies of receipts or pictures of the bulletins by electronic mail, maintaining in its files copies of payments made.

The decree provides, however, can continue to make use of banking services for the purpose of making payments.

Revolving credit card – “Zerus”

June 16th, 2009

On the market there are revolving credit cards that allow for the expenditure of large amounts, you can pay in installments to pay interest-free.

And ‘the case of “Zerus Charter” means the Visa credit card balance in installments of the Duchy, which allows to reimburse expenses exceeding the 400 euro in ten convenient monthly installments at zero interest, with no burden of interest.

That is, 400.00 with a purchase of more than one ticket, this credit card allows up to a maximum of 1,500 Euros, that the expenditure be recovered in ten convenient monthly installments without interest and buying under 400 Euros instead are reimbursed at the “classic” mode and with the revolving interest payments.

Charter Zerus “is on line Internet www.cartazerus.it, may apply for online through the website www.cartazerus.it does not provide for the first year the payment of any installment of association, only the second year, is in fact provided an annual fee of 15 Euros, when in use.

Balloon Mortgages

June 7th, 2009

The balloon mortgage, a product recently offered by banks, but that surely comes as an alternative to be evaluated when you turn on a mortgage.

The balloon mortgage is a mortgage in which the semi-annual or annual installments are wholly made from the payment of interest expense. The capital is instead subsequently returned to longer maturities, for example after 5 or 10 years, or through periodic payments of varying amounts.

It convenient for those without a fixed income you can rely on, such as self-employed, who need to be able to handle the loan without being immediately affected by the burden of repayment of capital in installments. In fact, unlike employees, is useful both to businesses that employed persons who have a variable income and a revenue structure less regular and more concentrated in certain periods (including multi-year), so it may be a valid proposal in the light of and in connection the monetary income and expenditure. So who receives the balloon mortgage can freely administer the return on capital in relation to their income.

Some advantages of balloon mortgages

  • It convenient for those who manage capital and has convenience to demobilize investment only in certain fixed dates (and not month after month as in traditional calculator)
  • Failure to return on equity in regular installments allows those who have received the loan to invest the capital and receive interest income by 100% of capital.
  • Since we made only by the payment of interest on the mortgage rate balloon is less costly in the short term than a traditional mortgage.
  • Other clauses provide for the loan can be paid off well in advance through the return of capital. Penalties extinction of the loan is lower than conventional loans.
  • The balloon mortgage is most beneficial to the customer for the bank.

Some disadvantages of balloon mortgages

  • The calculation of depreciation is less standardized. Banks are forced to manage mortgages with balloon dedicated procedures, other than the traditional auto loans.
  • Who gets the mortgage balloon must have administrative capacity and management of their savings evolved to ensure the return of capital to fixed dates.
  • The risks are greatest for the bank, such as the non-repayment of capital that is greater than traditional mortgages.