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One of Mexico’s largest islands, Cozumel, lies 20 km (12 miles) from the mainland, and 60 km (36 mi) south of Cancun. It’s a flat, limestone formation in the shape of a handgun, and sprinkled by tens of cenotes (water-filled holes), many with their own marine life, which are an extra attraction for swimmers and marine biologists who come to experience the island’s amazing offshore reefs.

Jacques Cousteau first promoted Cozumel in 1960, when he fingered Palancar at the island’s southern tip as one of the world’s best scuba-diving places. He triggered an explosion of tourist development, only curtailed in with the establishment of the National Marine Park in 1996: but the reefs were badly damaged by the wharves built for cruise ships to bring new tourists.

Attitudes changed quickly. Cozumel’s new islanders (the 40,000 Maya who welcomed Herman (’Stout’) Cortes in 1519 were reduced to 30 by 1510, and Cozumel became uninhabited) realised the value, not just of their spectacular marine wealth, but also of the island’s undeveloped centre.

You’ll never get a better chance to appreciate Mayan culture so close to good beaches. The biggest Mayan site, San Gervasio (named much later), was for centuries sacred to lx Chel, the goddess of fertility, and one of the Yucatan’s most important sanctuaries. There are several others, recovered from jungle and swampy mangrove lagoons now teeming with cormorants, pelicans, primary-coloured tree frogs, iguanas and crocodiles.

These days, the duty of collective care is replacing the ecological mistakes of the 1970s. You can see 250 species in its clear waters, including the bright blue-and-yellow queen angelfish, the toad fish (unique to Cozumel), and huge sponges like the barrel and elephant ear, which grows to 3.6 m (12 ft) across. Cozumel is fabulously pretty and exotic, and you should go there with someone you love and watch the sunsets.

If you are looking for holiday packages to Mexico, talk to Escape Travel. Escape Travel has a range of cheap flights to overseas locations as well as a wide selection of Australia holidays.

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One of Mexico’s largest islands, Cozumel, lies 20 km (12 miles) from the mainland, and 60 km (36 mi) south of Cancun. It is a flat, limestone island shaped like a holster, and punctured by dozens of cenotes (water-filled sinkholes), many with their own marine life, which are an extra attraction for tourists and snorkellers who come to explore the island’s fantastic offshore reefs.

Jacques Cousteau first popularized Cozumel in 1960, when he fingered Palancar at the island’s southern tip as one of the world’s best diving places. He triggered a growth in tourist development, only curtailed in with the establishment of the National Marine Park in 1996: but the reefs were badly damaged by the wharves built for cruise ships to bring new holiday makers.

Attitudes changed quickly. Cozumel’s new islanders (the 40,000 Maya who welcomed Herman (’Stout’) Cortes in 1519 were reduced to 30 by 1510, and Cozumel became uninhabited) realised the value, not just of their spectacular marine wealth, but also of the island’s unspoilt centre.

You’ll never get a better chance to appreciate Mayan culture so close to good beaches. The biggest Mayan site, San Gervasio (named much later), was for centuries sacred to lx Chel, the goddess of fertility, and one of the Yucatan’s most important sanctuaries. There are several others, recovered from jungle and swampy mangrove lagoons now teeming with cormorants, pelicans, primary-coloured tree frogs, iguanas and crocodiles.

These days, the duty of collective care is replacing the ecological mistakes of the 1970s. You can see 250 species in its clear waters, including the bright blue-and-yellow queen angelfish, the toad fish (unique to Cozumel), and enormous sponges like the barrel and elephant ear, which grows to 3.6 m (12 ft) across. Cozumel is fabulously pretty and exotic, and you should go there with someone you love and watch the sunsets.

If you are looking for holiday packages to Mexico, talk to Escape Travel. Escape Travel has a range of cheap flights to overseas locations as well as a wide selection of Australia holidays.

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Many homeowners are considering taking advantage of today’s historically low interest rates by refinancing their mortgage. In many cases, they are able to save hundreds of dollars per month by refinancing. Whether mortgage refinancing makes sense for you can be easily determined by doing some simple math.

The first consideration is how much lower your new interest rate should be than your current rate. There is a common belief that if current rates are more than 1.5 to 2 percentage points lower than your current rate, then you should refinance. That’s a good starting point, but there is more to the story than just the raw interest rate.

Your real concern should be the total cost of the mortgage refinance both in the short term and the long term. The total cost includes not only the monthly mortgage payment (principal plus interest), but the closing costs, as well. Closing costs typically include such things as:

• Appraisal fee
• Credit Report fee
• Processing fee
• Commitment fee
• Tax Service fee
• Flood Certification fee
• Discount points (if any)
• Title Insurance (based on mortgage amount)
• Recording/Notary fee
• Per diem Interest
• Real Estate Taxes
• Home Insurance (percentage of mortgage amount)

Adding all these up can easily run into several thousand dollars, even without discount points. This is money that must be paid at the loan closing. In the case of a mortgage refinancing, lenders often advertise “no closing costs”, which is a bit misleading. The truth is that there ARE closing costs, but they are paid out of the proceeds of the loan rather than the pocket of the homeowner. This is possible when the homeowner borrows against the equity in their home as part of the refinancing.

As an example, let’s say that your home is worth $175,000. Your original mortgage was for $125,000 over 30 years at 7% interest. You still owe $100,000 on the original mortgage. The closing costs for your refinance are $3,000. If you simply refinance the $100,000 amount at a lower interest rate you will reduce your monthly payments, but you will have to pay the $3,000 closing costs out of your own pocket. If you choose the “no closing costs” option, your $3,000 closing costs will be paid by simply borrowing the additional money against the equity in your home (i.e. the value of your home less the amount owed). Your mortgage will now be for $103,000 instead of $100,000.

So, what about that widely held 2 percentage points belief we mentioned earlier? The monthly payment for a 30-year $125,000 mortgage at 7% interest is $831.63. For your new 30-year $100,000 loan at 5% interest, the monthly payment is $536.82, a savings of almost $300 per month. If the new mortgage is $103,000, the monthly payment is $552.93, still saving you over $275 per month. In this scenario, considering only the monthly savings, you would recoup your closing costs in as little as 10 months.

Sounds great, right? Well, there’s another factor you need to consider. If your original mortgage was $125,000, you’ve been paying on it for 152 months to get the principal balance down to $100,000. Therefore, you have 208 months left before the mortgage is paid off under the original terms. If you continue without refinancing, you’ll pay an additional $172,978 (208 months at $831.63 per month).

If you refinance your mortgage for the $100,000 you currently owe, you’ll pay on it for 360 months at $536.82 plus the $3,000 closing costs for a total of $196,255.

$172,978 <-- payout without refinancing

-196,255 <-- payout after refinancing

-$23,277 <-- difference

In this case, by refinancing you will end up paying an additional $23,277 for the new loan over the original mortgage. This works out to about $775 per year, which may be acceptable to you in order to have the lower monthly payment now. You are the only one who can make that decision based on your personal financial situation. The important thing when refinancing your mortgage is to consider all the ramifications.

This is another of today’s money secrets that can help you get the most for your money in today’s lending market!

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The earliest Lincoln Continental was the automotive equivalent of Catherine Zeta-Jones — it ought to have come with a warning label that read “May Cause Shortness of Breath.” Based on the Lincoln Zephyr, the Continental got its start as a one-off drop top commissioned by Edsel Ford in the late 1930s. Serving as his vehicle of choice during his annual jaunts to Palm Beach, the car’s exquisite shape generated so much buzz that Lincoln decided to put the Continental air suspension into production. Available as both a cabriolet and a coupe, the Continental debuted in 1940. World War II and other events resulted in stops and starts in the car’s production over the next decade or so, but by the mid-’50s, the Continental was back — this time as its own brand. That arrangement didn’t last (the Continental brand was folded back into the Lincoln marque in 1957), but the Continental did. For more than two decades, it served as Lincoln’s flagship model.

As a recipe for ailing sales, the Lincoln Continental was redesigned in 1961. Now available as either a sedan or a four-door convertible (the nation’s first in more than a decade) it was hailed for its clean good looks and winning performance. That era’s photogenic First Family was often snapped riding in the Continental; it came to be known as the “Kennedy Lincoln” and enjoyed a wave of popularity. Another redesign took place for 1966 and again in 1970, which left the Continental with a blocky, more formal look (highlighted by hidden headlamps and a larger grille) and a coil-link rear suspension. Fuel economy and emissions regulations forced Lincoln’s hand, and the Continental was given makeovers in 1980 and ‘82. The car rode on a much shorter wheelbase, and offered improved gas mileage. In 1988, the car was given a new platform — one shared by the midsize Ford Taurus and Mercury Sable. This Continental was the first Lincoln to offer front-wheel drive and a fully independent suspension.

Unfortunately, this move to front-wheel drive eventually doomed the Lincoln Continental rear air suspension as it progressed through the end of the 20th century. Late-model Continentals didn’t exactly crackle with the same desirability as that very first model, as consumer tastes had moved away from the soft-riding big-car brand of luxury that was the Continental’s stock in trade. Even more notably, foreign rivals such as BMW, Lexus and Mercedes-Benz had eclipsed the car in performance and refinement and had become top choices for shoppers in this segment. Dogged by weak sales, Lincoln’s big sedan was retired in 2002.

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