Wednesday, March 26, 2008

Loss Mitigation Negotiating

The big secret that is not really a secret is that your home lender does not want your home. Certain people may tell you that your lender hopes that you will not make your payments so that your lender can get your home. This simply not true. Your home lender makes money on home loans, not by selling repossessed homes.

Because mortgage lenders do not really want your home, most lenders have set up loss mitigation departments to help people who are behind on their monthly mortgage payments. These loss mitigation departments are there to reduce the potential loss that could be suffered by your lender. Generally the loss mitigation departments have some discretion on how they can help you. Often they can give you more time to pay your payment, defer a payment until the end of the loan payment period, or modify your existing mortgage (if you agree to modification). They may accept a deed in lieu of foreclosure.

Loss mitigation negotiating is really nothing more than talking with your home lender to see if there is a way that you can pay your mortgage payment so that your mortgage lender will not lose money. Maybe you need more time to pay, maybe you need to skip a payment, or maybe you need a mortgage modification.

The first thing is to talk with your mortgage lender. Tell them your situation and see if they can offer you some help. Consider what your mortgage lender says and determine if it will or will not help you. If it will help you, accept and do what they offer. If it will not help you, make an offer.

If you do make an offer, be absolutely sure that you can do what you offer to your mortgage lender. For example, if they say that they are sorry, but that they cannot help, tell them that you can pay them on a certain day, that you want to avoid foreclosure, and that, if they add additional fees such as court costs and attorney fees, you will not be able to pay. Then they have to think:"should we wait several days to get paid and avoid additional costs, or do we go ahead and spend the money to foreclose?" Your home lender has to make a decision on what is best for them. And I believe that they will give you more time.

It is important that you be able to do what ever you offer to your mortgage lender. If you say that you can pay on a certain day, you need to pay by that certain day. If you don't, your lender will not believe you in the future. By the same token, if you do what you say you will, your lender will believe you in the future. And loss mitigation negotiating will be easier in the future.

This article is general information. If you have any questions of any nature about avoiding foreclosure, talk with a lawyer licensed in your state.


Wednesday, March 12, 2008

People Mover Financing

People movers help in transporting people from one place to another. They are essential in amusement parks and in other large sites. They are also vitally important in certain industries. People movers are becoming essential due to several factors like age, advanced technology, parking lot operations and so on. Due to their functionality they carry high price tags. Hence many companies require people mover financing to acquire them.

Bus is a form of people movers which help transporting group of people from one place to another. It is spacious as well as comfortable. It comes in different sizes and shapes. There are many models of buses like passenger style bus, mini bus and so on. Customer cruiser is one important type of buses which are used by sports star or rock band. It has number of advanced facilities to ensure great comfort to the passengers. Buses can also be classified as tour bus, articulated bus, public transportation bus, school bus and so on. Since buses can be used in multiple functions, they are used as business vehicles also. Due to their functionality, they are quite pricey. Hence many companies look for people mover financing to acquire any number of buses they need. Taxi or cab is yet another form of people movers. Taxis have been in existence for so many years. They are doing the same function of transporting people from one place to another. But they have been added some sophisticated features like computer assisted dispatch, wheel chair access and GPS systems. These additional features make them quite expensive. Hence most of the companies find people mover financing often desirable.

People movers help generating revenues of the companies engaged in transportation business. They help in transporting people to long distances also. Though expensive, they are essential for running the business for certain companies. Hence they need to acquire them with the help of people movers financing.

Due to the high cost, many financial institutions may not be ready to finance people movers. However there are some genuine financing companies that have experience in the field of business vehicle financing. They can understand the need for people movers in certain businesses and so they are ready to grant financial assistance to acquire any number of vehicles.

Since people movers come in highly customized models nowadays to increase the comfort of the passengers, they are quite pricey. This makes it impossible for many companies to acquire them with their own money. Thanks to some valid financing companies, most of the business owners find it easy to get people mover financing nowadays.

The legitimate financing companies grant the desired amount to acquire people movers to companies without any embarrassing procedures. They also provide fast approval. Hence the companies can get the financial assistance even on the same day itself. Since people movers can help in generating more revenues, the companies would not find it difficult to repay the low monthly installments. Hence people movers financing is not an expense but an investment for those companies.


Tuesday, March 11, 2008

Striper And Paver Truck Financing

Striper and paver trucks are invaluable vehicles for any paving companies or for government organizations. These vehicles are useful in spraying paint in neatly striped lines. They help saving much time. They are useful in road or parking lot operations. Paving a driveway and striping a road is not possible without striper and paver trucks. The need and convenience increases their price and so striper and paver truck financing is the best option to acquire them.

The companies that are in immense need of these vehicles need to consider a reliable financing company that has experience in financing business vehicle to get striper and paver truck financing. Their experience makes them understand the need of these trucks in certain businesses and therefore they would provide fast approval of the desired amount to acquire the vehicle.

Striper and paver trucks are of various types. The truck mounted street striper is a truck that helps in painting the edge and middle part of stripes fast. They also help spraying paint neatly in the stripes. Since everybody wants road or parking lot with stripes, the need of these vehicles is increasing more. Their convenience and time saving features make them carry a high price tag. Hence many companies look for striper and paver financing.

Tow behind street stripers are yet another important vehicle which helps painting neat stripes even on hard surfaces. They are more compact and can be used even without a truck. The compact design and extensive services of these vehicles make them favorite among most of the companies. However these features can make the vehicle expensive. Therefore striper and paver truck financing is often preferable.

Asphalt paver truck is a valuable vehicle which comes in different configuration to suit different requirements. They are used to distribute asphalt on road evenly on roads, parking lots and other required areas. Since they help in saving time they are expensive. The striper and paver truck financing is the best option for companies that require these trucks.

Financing striper and paver truck may not be easier. Due to their limited scope, many traditional financial institutions may not be ready to finance them. However there are some reliable financing companies that can understand the need of striper and paver trucks by certain companies. Hence they are willing to provide financial assistance to he companies without any troublesome procedures.

Since such financing companies have great experience in financing business vehicles, They have some specialized knowledge about these trucks. Hence striper and paver truck financing is easy and becoming possible for almost all companies.

The valid financing companies do not require any cumbersome application procedures. Since the private paving companies and other organizations that require these types of vehicles can approach them easily and get fast approval to get striper and paver truck financing.

Some genuine financing companies accept online applications. Therefore the companies need not waste more time in the tiresome application process. Only few minutes are required to fill the simple application form of such financing companies. They also offer financing at low interest rates and so the companies would find it easier to repay the monthly installments.


Friday, March 7, 2008

The Fundamentals Of Mortgage Rates

What makes mortgage rates fluctuate? They are talked about so often that you would think this is common knowledge. But the simple truth of the matter is, most people do not even know how these rates work! Among the many entities that people think are the cause of their movement are the Fed, the economy, inflation, the President, etc., etc. The real answer is that rates are moved by a number of factors, one of them being, well, you!

The Money Tree

Money for mortgages comes from a variety of different sources. Some of it comes from banks and brokerages, but a lot of it comes from investors in the capital markets. Bonds buyers come to these markets looking for good buys. Sellers of these bonds must compete with each other to get the money of these buyers. They do this by offering varieties of the investment instrument which differ with regard to risk structures and returns over time. These products also compete with other investment instruments like U.S Treasuries, corporate bonds, foreign bonds, etc.

Investor demand moves mortgage rates. They have plenty of places to put their money. Their choices directly affect the movement of rates. In a crowded marketplace, mortgages must be considered attractive enough to invest in. Of course, it is not really as one-dimensional as it may seem. Mortgage rates are affected by any number of factors in the capital markets alone.

The Other Things

Other investments also affect mortgage rates. For example, there is a very direct relationship between mortgages and U.S. Treasuries. Another factor includes "volume" available. Unlike other investments, no one can really tell how many mortgages will be on the market at any given time. Drops in interest rates produce large buildups of loans. This means that the supply of bonds goes up in a relatively short period of time. Investors cannot absorb this at once. Oversupply with little demand devalues the investment instrument.

There are also time problems when it comes to mortgage pricing. It takes hours or days for prices changes in capital markets to get to wholesalers or retailers. Also, not all of the changes are fully reflected in street prices. Depending on the fluctuation, rates may remain static. Another example is when a minor increase in bond yields is followed by a reduction later in the day and does affect the mortgage rates at all. Inflation also plays a large role in fluctuations.

All this is an obvious oversimplification of a very deep topic. You would do well to read up some more on this. This is especially true if you are thinking of obtaining one or getting a new one. You must be armed with the right knowledge to make wise business decisions. That is the only way you will ever show a profit in the end. Wise business decisions are based on what you know. So improve what you know by reading and consulting people. In the end, your bank account will thank you for it.


Sunday, March 2, 2008

Think About These Five Reasons When Deciding To Refinance

Are you looking for a way to put some extra money in your pockets every month? One of the more popular trends is refinance your home. Just by doing something so simple you can bring down your monthly mortgage payment, raise some extra cash, and consolidate some outstanding debts with high interest rates. There are so many different reasons why refinancing your home is a good idea.

The thing is that there are a number of complexities involved in refinancing. This can sometimes cause some confusion when shopping for a mortgage refinance. It even causes some doubt whether or not refinancing really is a good option for them. Here are five reasons why it is to help put your mind at ease:

  • Lower monthly payments - It makes a lot of practical sense to decrease your interest rate and overall payments even if it causes you to pay a point or two. I recommend this strategy to people that don't plan on moving anytime soon. The reason why is works out over the long run is because the monthly savings pay for the cost of the mortgage refinance.
  • Go with an adjustable rate over a fixed rate mortgage - If you're one of those risk takers then think about an adjustable rate mortgage. These have a tendency to provide lower initial monthly payments for those who are willing to gamble on upward market adjustments. They are mostly recommended to home owners that don't plan on owning the property for more than a few years. However, it may not be the best move if you are living in your home for the long run. If that's the case, you are better of going with a fixed rate mortgage instead.
  • Get away from balloon payment programs - These balloon programs are very similar to adjustable rate mortgage programs. Many people find them attractive because of the lower rates and lower initial monthly payments, but the problem is when you still own the property at the end of the fixed rate term, the lender will expect you to pay the entire remaining balance. If you made the mistake of signing up for a balloon program, it is pretty easy to switch back over into a new adjustable rate mortgage or fixed rate mortgage.
  • Get rid of private mortgage insurance - Often times you'll see lenders offering zero down payment options which allow homeowners to buy a home with less than 20% down. What they do tell you is that they also usually require private mortgage insurance to do so. This is how they protect themselves from a loan default. Most homeowners become eligible to get rid of their private mortgage insurance with a mortgage refinance loan just as long as the value of the home increases and the balance decreases.
  • Cash in on your home's equity - One of the best places you can find extra cash is in your home. I'm not talking about in between your couch cushions either! Most homes increase in value. This gives you the ability to take some of that and use it as cash. I know plenty of homeowners who have used that cash to pay off credit cards, make home improvements, or even buy a brand new car. Cash-out mortgage refinance transaction are aksi tax deductible too.