1. The Sponsor: The Lampo Group, Inc. (Lampo), 1749 Mallory Lane, Brentwood, Tennessee 37027.
2. Who can win: Church Pastors and Members who are legal residents of the 50 United States or the District of Columbia. The Pastor or a member must be present at Catalyst Dallas in 2011 to claim the prize.
3. Who can?t win: Officers and employees of Lampo and their immediate family members; Endorsed Local Providers of Lampo; Lampo-trained Counselors; officers and employees of radio stations carrying The Dave Ramsey Show; any person working on the contest at any level in any capacity; and any outside companies or agencies involved in the contest in any way.
4. How to enter: Submit to Lampo a Video Essay not to exceed 2 minutes, illustrating what your church would do if money weren?t a limiting factor. Material not in the video will not be considered. Upload your entry to http://www.youtube.com/catvidcontest, or mail it to: Video Contest, Financial Peace University Church Dept., Attention: Michael Reddish, 1749 Mallory Lane, Brentwood, TN, 37027. Your entry must be actually received at Lampo by 11:59 p.m., CDT, on Sunday, May 8, 2011.
5. When to enter: You may enter at any time, beginning as soon as you learn about this contest.
6. Subject: We?re looking for churches that are dreaming big; churches with a record of leadership that is prepared to provide the dedication, direction, energy and imagination needed to begin a church-wide initiative to set people free from the bondage of debt and leave them free to give like never before.
7. Judging: Designated Lampo staff members will view all entries as they are received, and will choose the winner, which will be appropriately notified, and will be announced at the 2011 Catalyst Dallas.
8. Quality of Entries: Entries will be judged on the basis of originality, cleverness, relevance, apparent motivation, and potential. The decision of the Lampo staff members is final.
9. The Grand Prize: The winning church will receive a full scholarship for its Senior Pastor and two staff members (to be selected by the Senior Pastor; may include the individual who entered the contest even if they are not on staff) to a regularly scheduled Momentum Workshop at Financial Peace Plaza in Brentwood, Tennessee near Nashville. The scholarship will include round-trip air fare for three to Nashville from the winner?s closest major metropolitan airport, three rooms at a hotel in the Brentwood area to be chosen by Lampo, ground transportation to and from Nashville Airport, and all of the meals, transportation and amenities provided to paying Momentum participants.
10. Substitution of Prizes: Lampo may substitute prizes at its will, so long as the total value of each of the prizes remains approximately the same as what is stated above. If the Senior Pastor of the winning church cannot attend a Momentum Workshop in 2011 or 2012, the prize is considered forfeit.
11. Entries Not Received: Lampo assumes no responsibility for: receiving any entry on time, or for an entry being lost or damaged in transit; or for misdirected entries; or for any computer, online, or technical malfunctions that may occur at any part of the process. All entries will become the property of Lampo and will not be returned. Odds of winning the prize depend on the number of eligible entries received.
12. Entrant?s Agreement: By participating, a church and all three individuals attending the Momentum Workshop agree to abide by the terms of these official rules and by the decisions of Lampo, which are final and binding. Anyone who does not agree to this shouldn?t enter or participate.
13. Signing Documents: Winners, including all three individuals attending the Momentum Workshop, will be required to sign an affidavit of eligibility and a release before receiving or participating in the prize.
14. Ownership of Video Essays: The winning Video shall become the exclusive property of Lampo for all purposes, and the winning Entrant, including all three individuals attending the Momentum Workshop, by submitting a Video and in consideration of the prize received, assign to Lampo Licensing, LLC its/their copyright in that Video Essay.
15. Use of Name and Image: All Entrants, including all three individuals attending the Momentum Workshop, grant to Lampo the right to use and publish their proper names and states of residence online, in print, and in any other media in connection with the contest. They also grant Lampo the right to use their names and likenesses for advertising and promotional purposes without additional compensation, unless this is prohibited by law, and if requested to do so, they will furnish Lampo with any needed information, and will submit to being interviewed and photographed.
16. Entrant?s Release: By entering or participating in a submitted Video, Entrants, including all three individuals attending the Momentum Workshop, agree in advance to release and hold harmless The Lampo Group and its subsidiaries, affiliates, directors, officers, employees, and agents from any and all liability or any injuries, loss, or damage of any kind arising from, or in connection with, this contest, the creation of the Video, or any prize won.
17. Termination of Contest: Should this contest be terminated, which Lampo may do at its sole discretion, a notice will be posted at http://www.DaveRamsey.com/catvidcontest.
18. Government Form: The winner will have to sign and return to Lampo an IRS form W-9 relating to the
value of their winnings.
19. Disclaimers: Lampo reserves the right, at its sole discretion, to disqualify any individual who tampers with the entry process, and to cancel, terminate, or suspend the contest if anything required for its conduct should malfunction. Lampo assumes no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications-line failure, theft, or destruction or unauthorized access to, or alteration of, entries, or for any problems or technical malfunction of any telephone network or lines, computer online systems, servers or providers, computer equipment, or software, or for failure of any entry to be received on account of technical problems or traffic congestion on the internet or at any website, or any combination thereof, including any injury or damage to participant's or any other person's computer related to, or resulting from, participation in, or downloading of, any materials connected with this contest. No purchase is necessary, for information regarding eligibility of persons not attending the Catalyst Dallas 2011 event, please send a self-addressed, stamped envelope to Video Contest, Financial Peace University Church Dept., Attn: Michael Reddish, 1749 Mallory Lane, Brentwood, TN, 37027. Requests must be received at least 10 days prior to the Catalyst Dallas 2011 event, requests received less than 10 days prior to the Catalyst Dallas 2011 event will not be considered.
20. Winner?s Identity: For the names of the winners, send a self-addressed, stamped envelope to Video Contest, Financial Peace University Church Dept., Attn: Michael Reddish, 1749 Mallory Lane,
Brentwood, TN, 37027. Only requests received within 30 days after the contest ends will be filled.
21. Copyrights: Everything connected with this contest that can be legally copyrighted is Copyright 2011 Lampo Licensing, LLC. All rights are reserved. United States and Tennessee laws govern this contest, which is void where prohibited.
22. Agreement: By entering this Video Essay contest, a church and its pastor (or the person who is designated by that pastor as the person in charge of that church?s entry) agree in advance to all of the terms and conditions set forth in these rules. If any of the individuals designated by the pastor to attending the Momentum Workshop have not already agreed to abide by these rules, they will be considered as having done so if they participate in any way by accepting any portion of the prize.
23. Substitute Winner: A representative of the winning church must be present and identified at the announcement of the winner at Catalyst Dallas in order for that church to win; if that representative is not present and identified at that time, a substitute winner will be announced. Such announcements will continue until a representative of the latest announced winner is present and identified.

Source: http://www.daveramsey.com/article/financial-peace-university-video-essay-contest/lifeandmoney_other
A new study sheds additional light on the issue of "strategic defaults" in America, offering further insights into homeowners who are statistically more likely to make a calculated decision to stop paying their mortgages.Currently, about 25% of homeowners nationwide are underwater ? meaning they owe more on their homes than the properties are worth. A strategic default occurs when a homeowner decides to stop paying his or her mortgage, even while that individual generally keeps up with other payments, such as credit card bills or an auto loan.
This latest study on strategic defaults comes from Fair Isaac Corp., creator of the FICO credit score. It adds to a growing body of research that aims to help banks and other lenders predict which consumers are most likely to walk away from homes that are underwater.
According to Fair Isaac's study, called Predicting Strategic Default, some key characteristics of strategic defaulters include:
? Better FICO Scores
FICO credit scores range from 300 to 850 points. Fair Isaac's research shows that nearly all strategic defaulters previously had a "good" credit rating and a score of 620 or higher. Many strategic defaulters even have scores in the high 700s or 800s.
? Less credit card debt and lower retail balances
Surprisingly, those who strategically default on a mortgage tend to manage their credit card debt well, spending money carefully and generally keeping their credit card and retail balances lower than that of the general population.
? Shorter length of residence in the property
Because strategic defaulters typically haven't lived in their homes for very long periods of time, Fair Isaac officials suggest this translates into less emotional "attachment" to a home.
? More recently opened credit in the past six months
Strategic defaulters are more likely to have opened credit card accounts in recent months, perhaps, according to Fair Isaac, as a way to prepare for life after a strategic default ? when credit will become much harder to obtain.
Fair Isaac's research into strategic defaulters follows other recent studies on the topic, including data from VantageScore Solutions LLC, developer of the VantageScore. The VantageScore is a credit score that was developed by the three credit bureaus, Equifax, Experian and TransUnion. VantageScores range from 501 to 990 points.
During a recent webinar on the topic of improving risk prediction, VantageScore Solutions Senior Vice President Analytics, Product Management & Research, Sarah Davies, highlighted what lenders and credit risk managers should be focused on when trying to spot people who are more likely to be strategic defaulters.
"We're all aware of a great deterioration in credit quality. Default levels are increasing across the board in all industries, but what we're also seeing are shifts in the way consumers are thinking about their debts," said Davies. "Historically, we've known that mortgage payments were the most important payment for the average consumer, but with the recent phenomenon of strategic defaults, we're seeing people prioritize their debts in different ways."
For instance, consumers with at least one late payment on their credit reports are increasingly choosing to pay their credit card debts and auto loans before their mortgage, she said.
But defaulting on a mortgage, whether by choice or by economic circumstance, obviously has several negative ramifications. The two biggest penalties for consumers: taking a hit to your credit rating and being locked out of a big segment of the mortgage market for several years.
"Making the decision to willfully default on a mortgage is not only ethically questionable but it will take its toll on a credit score," says VantageScore Solutions CEO Barrett Burns. "If a consumer with a starting VantageScore of 862, which is considered 'prime plus,' can lose up to 140 points from a foreclosure, someone with a slightly higher score should be prepared for a major reduction."
In studying strategic defaults, VantageScore has found that:
? Individuals with ultra-high credit scores ? those consumers boasting so-called "super prime" VantageScores of 901 to 990 points ? became strategic defaulters at a rate 50% higher than the overall delinquent population.
? Borrowers with multiple first mortgages (i.e., real estate investors) had higher levels of strategic default.
? Consumers with bigger mortgage balances were also more likely to be strategic defaulters. This was true even when researchers controlled for variables like geography, number of first mortgages and the borrower's VantageScore
Despite Penalties, Strategic Defaults Gain In Popularity
Beyond the toll on a person's credit, there's also the prospect that a strategic default will make it much tougher to jump back into home ownership. In 2010, Fannie Mae announced that strategic defaulters would be banned from getting Fannie Mae home loans for seven years from the date of the foreclosure.
Despite the threat of a damaged credit rating and diminished access to home loans in the future, it's clear that defaulting on a mortgage is nonetheless gaining ground with consumers as a viable option for dealing with their financial predicaments.
In a December 2010 survey published by RealtyTrac, nearly half of all homeowners polled (48%) said they would consider walking away if their mortgage was underwater. That 48% figure shot up from 41% in May 2010, suggesting that a growing number of Americans think it would be acceptable, at least under certain circumstances, to abandon their mortgages.
Also noteworthy, RealtyTrac's data found that men were far more likely to consider strategic default than women, by a margin of 57% to 40%.
So the real challenge for banks and credit reporting agencies shouldn't be about simply trying to predict who's likely to default, but figuring out how to deal with the core problems facing these borrowers. But no one seems to be studying what's driving these desperate borrowers into making such a drastic decision.
And herein lies the problem with the research thus far into strategic defaults.
First, the research begins with the enormous assumption that strategic defaulters do ? in fact ? have the financial means to pay their mortgages but simply opt not to.
I think this is a huge ? and faulty ? assumption.
The Fair Isaac study states: "Where the key driver for the behavior of traditional defaulters is affordability, the key driver for strategic defaulters is incentive. Strategic defaulters can afford to continue making mortgage payments, but they believe that it is not in their financial best interest, generally because they are 'underwater,' owing more on their mortgage than their house is currently worth."
While it may be true that strategic defaulters are a more financially savvy bunch - and more likely to view their homes as an investment - it's a major leap for researchers to assume that strategic defaulters definitely have the ability to repay their home loans.
Says who?
Neither FICO scores nor VantageScores track or calculate a person's income. So while these agencies can make guesstimates about a consumer's income, they really don't know how much money a borrower earns and whether or not there's been a decline in a family's economic standing.
Besides, even if researchers had the exact income of a borrower in question, those researchers have no way to know ? and don't appear to be interested in ? whether the person has other liabilities impacting the borrower's willingness or ability to repay a mortgage.
For instance, is the homeowner also paying for private school for their children or a kid who just entered college? Is the borrower financially supporting aging parents or a family member with big medical bills? Or has a two-income couple just gone through a separation or divorce, or has one party in the relationship lost a job?
None of this is reflected in the research. So if the only criterion being used is a belief that "well, these people are somehow paying all their other bills, so they must be able to afford their mortgage, too," that's a poor way to gauge affordability.
On paper, it might appear that strategic defaulters can "afford" their existing mortgages, but what if they truly can't? What about the scores of people who've sought out help with their mortgages - to no avail ? before making the decision to walk away from a home?
Struggling homeowners nationwide have lamented for more than three years about limited options when they reach out for help in restructuring unaffordable mortgages. They tell stories of banks that repeatedly lose paperwork; about being rejected for forbearances and loan modifications after making reduced, trial repayments as agreed; and of course, about getting the door slammed in their faces when they try to refinance homes that are underwater.
In short, U.S. homeowners have dealt with a lot of headaches, hassles and heartbreak when it comes to fixing their mortgage woes. So why should we think that strategic defaulters are any different? Simply because they have higher incomes and better credit?
What's more likely is that strategic defaulters are simply better able to mask their financial difficulties. They have more options (like family members they can borrower money from, lines of credit they can tap, or 401(k) plans they can dip into) to help them ride out a financial storm. Consequently, the cracks in the financial façade simply aren't as visible.
But just because their financial pain isn't showing up in the research on strategic default doesn't make it any less real.
So until researchers from FICO, VantageScore and elsewhere delve into the human side of strategic defaults, they're really just guessing about who's a strategic defaulter ? not to mention who's likely to default and why.

Source: http://www.walletpop.com/2011/04/26/strategic-defaulters-still-no-reason-why-some-stop-paying-their/
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The Greeks are just the name given to the quantities representing the sensitivities of the price of derivatives to a change in the parameters on which the value of the instrument is dependent. In other words, the Greek are a way of measuring risk management.
Source: http://ezinearticles.com/6202845
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Source: http://www.legaldebthelponline.com/2011/04/25/is-it-a-good-idea-to-decide-on-a-cash-advance-loan/
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Finance is a tool that should benefit you. When the tool is used, it does wonderful things for your life. If you allow it to master you, it will bring pain, frustration, and disappointment. Mastering the tool of finances will bring you into the abundant life that God has prepared for you. Here are some questions from readers about kids and money, investments, and the "D" word - debt.
Source: http://ezinearticles.com/6203436
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Parents don’t want to send their teenagers unprepared into the wide world of personal finance, slapping a credit card into their hands and watching them ruin their credit scores before they turn 18. Many responsible parents give their responsible teenagers plastic with training wheels: a debit card. But despite the profusion of debit cards for teenagers, prepaid debit cards are almost never a good financial decision. Demonstrate good money sense to your kids: read the terms, shop around, and at the end of the day, choose a regular checking account and ATM card over a teenage prepaid debit card.
Tales my bankers told me
Three of the four card networks – Visa, MasterCard, and American Express – offer a prepaid debit card aimed at financial fledglings (Discover killed its Current card this year), supported by any number of banks. They sell themselves on responsibility, safety and security:
“There’s no risk of overdraft fees for your teen, and PASS can’t impact your teen’s credit.” – PASS from American Express
“Specially designed to offer teens spending independence and responsibility.” – Visa Buxx
“Gives you an opportunity to teach your teen financial independence with a safe, convenient, risk-free alternative to cash…no overdraft fees, no credit risks, and best of all – no more handing over your credit card.” – BillMyParent$ (from MasterCard)
Terrified that giving their teens any other option of payment, be it credit or debit, will lead to identity theft, mountains of debt and an irrevocably damaged credit history, parents might well believe a prepaid debit card’s fees are worth the security and control.They’re not. If the prepaid debit cards’ testimonials were completely open with you, they’d note that regular checking accounts come with overdraft protection, can have no negative impact on a teen’s credit score, and are (still) mostly free. The sites would then go on to say that prepaid debit cards, on the other hand, are riddled with fees, both upfront and hidden: reloading fees, annual fees, monthly fees…not exactly free checking.
Avoid prepaid debit cards, no matter how old (or young) you are
Let’s repeat the benefits touted by prepaid debit card sellers: no overdrafts, no effect on credit score, easy to reload, easy to access and track, protection against emergencies.
Overdrafts. These used to be a problem: a consumer could spend 50 cents more than he had, and incur huge fines. But after the Credit CARD Act of 2009, consumers have to opt in to every overdraft purchase: they’re explicitly told that their sixth of a latte will cost them $35. Overnight, overdrafts became a non-issue.
Credit scores. Regular, non-prepaid debit cads (such as your basic ATM card) have no effect on a credit score, either. If you’re looking to keep your teenager’s file thin and pristine, don’t worry: Fair Isaac doesn’t care about checking accounts. However, there’s something to be said for beginning to build a credit score while your child’s still at home and you can offer some guidance. The age that a teenager gets his first credit card is highly dependent on his own sense of maturity and responsibility, and some won’t be able to handle a student credit card until they’re in college. However, if building credit for your child is a priority for you, they could benefit from a credit card with a low limit, cosigned by you, as they begin to establish a pattern of on-time payments. In either case, prepaid debit cards are sub-par choices.
Ease of use. The prepaid debit card may be easy to reload: many allow parents to set up monthly automatic allowances, or to reload online. But they charge for the privilege: BillMyParent$ wants $1.75 for every one-time load from a bank account, $1.50 for an automatic monthly reload, and $2.95 to reload by credit card (check out our fee table at the bottom for a complete list of charges). How much does the Wells Fargo Teen Checking account charge? $0. Checking accounts also offer online statements and monitoring, fraud protection and FDIC insurance, absolutely free of charge.
Protection. The American Express PASS card offers some perks: roadside assistance (a number to call if you have car trouble – they won’t actually pay for any of the services they refer you to) and global assistance (same principle – it’s a referral service, not insurance). However, before you determine that these goodies are worthwhile, ask yourself how many times you’ve used travel and global assistance (most rewards and premium credit cards have them). Furthermore, ask yourself this: if your teenager ran out of gas on the highway, or lost his passport while traveling alone in Canada, would you want them to call a hotline, or you?
Debit cards for teenagers don’t have to cost an arm and a leg
If your kid’s not quite ready for a credit card, just give her a standard checking account. Many banks offer teen or youth checking accounts with added parental oversight, daily limits and statements that are sent to both the child and the parent. They offer the same level of parental control, the same ease of depositing, withdrawing and spending money, and none of the exorbitant fees. We’d recommend the Wells Fargo Teen Checking account, which comes with a savings account. It offers financial literacy tools; text message/email/online account alerts, online banking, and free ATM withdrawals. For parents, the account offers online access, online money transfers and daily spending and withdrawal limits.
Turn prepaid debit cards into a conversation on financial street smarts
Prepaid debit cards are incredibly popular, despite the fact that they’re basically just expensive ATM cards. This is an excellent time to explain to your teen that any offer should be met with suspicion and solidly researched before it’s accepted. Start by showing her the website for a prepaid debit card. Explain how the site tries to sell its product: security, ease, perks. Mention how prepaid debit cards are compared to cash (unsafe and unwieldy) and credit cards (potentially damaging) but not to their true counterparts, regular debit cards. Then, ask her to compare prepaid and regular debit cards. Wait for her to come back with her research. She’ll ask something like, “Mom, Dad, why do people use prepaid debit cards when they can get the same thing for cheaper?” Have an answer ready. Teach your kid financial responsibility, and remind them that the first offer they see isn’t always the best. Then sign them up for a checking account.
Fee Schedules
Check out the fee disclosures for the prepaid debit cards, and be sure you understand all of them before making a decision.
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Investors have been fleeing Demand Media since April 6th, as shown in this chart from Yahoo Finance.
April 6 is right around when Google implemented its latest search algorithm tweak, which has hammered Demand Media's sites according to Hitwise data given to Forbes, as well as earlier data from SEO firm Sistrix.
Demand admitted its traffic had fallen off, but said it would still hit its stated financial goals. Obviously that wasn't enough assure spooked investors.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/SKN6B_p3xg0/chart-of-the-day-demand-media-2011-4
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