Category Archives: Financial Plan

Commercial Mortgage Modification

Commercial Mortgage Modification

In todays crumbling, commercial real estate market, both borrowers and lenders find themselves in quite a precarious predicament. Borrowers struggle to make their commercial mortgage payments, while lenders are crippled by the increasing number of defaults on commercial property. Right now the best solution to this problem is commercial mortgage modification.

Commercial mortgage modification is the process of renegotiating the terms of a commercial loan. This is done typically by reducing the interest rate or monthly payment on the loan. Other benefits to the borrower may include an extension of the loan term, a forbearance or moratorium on payments, and of course an alternative to foreclosure.

A commercial mortgage modification is about risk to the lender. A lender will only consider a modification if a borrower is in default or at risk of defaulting. The most important thing the lender will look at in determining whether or not to modify a commercial note is cash flow. One very important calculation used in determining cash flow is called the DCR or Debt Coverage Ratio. This ratio is used by the underwriters to determine if a modification can be approved. If a property is breaking even, meaning the income generated is equal to the operating expenses, the DCR would be equal to 1. If commercial property has a positive cash flow, meaning the income the property generates is more than sufficient to cover the mortgage payment and all of the operating expenses, the DCR is greater than 1. If the property is losing money, the DCR would be less than 1. A lender will most likely not modify the commercial note, if the property already has a DCR greater than 1. Commercial lenders writing new commercial loans will most likely require a DCR of 1.25 or greater.

The most common form of payment reduction seen in a commercial mortgage modification is when the lender converts a principal and interest payment to an interest only payment. A lender may consider this form of commercial loan modification to help the borrower improve their cash flow. By only paying the interest on the loan, as opposed to principal and interest, the payment becomes more affordable for the borrower.

However, in extreme circumstances, reducing the mortgage payment to interest only is just not enough for a commercial property owner. If a lender sees that the borrower will still have negative cash flow even after reducing the payment to interest only, they may consider a reduction in the interest rate. Although the interest rate reduction may be temporary, it will help the borrower free up capital and maintain the mortgage payment on time. Although uncommon, lenders have lowered interest rates to as low as 1% even, to avoid an even more costly foreclosure.

Three Things to Look for In a California Financial Advisor

Three Things to Look for In a California Financial Advisor

You have finally reached a level of income and assets that you need to find a conveniently-located financial advisor in California to get you to the next level of wealth building. Congratulations, because that is a good problem to have. The right financial advisor can not only steer you in the right direction, they can also do something for you that you probably never thought necessary; they can teach you about your own money. Like it or not, you can be, and probably are, your own worst enemy when it comes to managing your money.

The laws are different on the West Coast, so you are going to want a California financial advisor, not a voice on the other end of the telephone and on the other end of the continent. Beyond very specific advice, here are some general guidelines that will help you find the professional help that is right for you:

No Commissions

Right or wrong, consciously or unconsciously, an advisor who works on commission can have their judgment clouded by an individual transaction. Instead, look for an advisor that charges a fee instead of a commission. Do not be fooled by advisors who tout their service as fee-based, which simply means they charge a fee and a commission.

One resource you can use to find a fee-only or hourly financial advisor is the National Association of Personal Finance Advisors.

Meaningful Certification

It comes as an unpleasant surprise to many seeking financial management; the only requirement to be able to legally give financial advice or to buy and sell assets is a passing mark on a test about securities law. If they are going to going to sell insurance, they will also need an insurance license. Just about everything else is mere filler.

The one designation that still retains meaning is CFP, which means that the recipient has underwent a thorough background check, has passed a comprehensive test covering all aspects of financial planning, and has at least three years of experience in the field. To maintain that rating, they must enroll in continuing education to stay current.

The Voice of Experience

The generally accepted length of the financial business cycle is seven to eleven years. Therefore, if you only consider hiring a California financial advisor who has served in that capacity for at least ten years, you will have the advantage of working with someone who has experienced firsthand the peaks and valleys of the investment landscape. When it is your money on the line, a cool and steady hand is what is called for.

There are risks associated with any investment plan, and past success is not an absolute predictor of future performance. But by following these three simple guidelines, you can maximize your chances of safe and steady financial growth.

For more information about California Financial Advisor, please visit our website.

Bank Of America Loan Modification — A Simple Five Steps To Approval!

Bank Of America Loan Modification — A Simple Five Steps To Approval!

Have you been worried or even just concerned about meeting a high monthly mortgage payment? Perhaps you have been pondering negotiating for a better deal, such as a Bank of America loan modification period. This nationwide lending bank is now offering loan workarounds to some of its borrowers. You can improve your chances of getting the loan modification deal. If you meet certain approval requirements, you can lower your mortgage payment. Before you apply, you need to know about these Five Steps to Approval.

1.Study the Bank of America loan modification approval guidelines. To qualify for a loan workaround program, you must meet specific disposable income and debt to income ratios.

2.Collect all necessary documentation for the bank. A bank officer will review your documents to decide whether you qualify for a Bank of America loan modification. Be sure that you have everything before you apply, in order to avoid any possibility of delay or even denial of your application.

3.A Hardship Letter is an essential part of your document package. You must present convincing, compelling evidence that you have experienced or will suffer from a financial hardship due to your current mortgage payment. There are three essential elements in a Hardship Letter — be sure that you know what they are.

4.Take time to prepare, accurately and properly, the Bank of America loan modification application forms. Everything you state is subject to verification, and so you must include all important information, truthfully, to ensure that your loan workaround is given the maximum possible consideration for approval.

5.Be persistent. Eight weeks is not uncommon for processing time of your Bank of America loan modification application. So be patient as well! Even if you are declined the first time, do not give up. Many homeowners were able to get an initial rejection of their application overturned by being diligent, tenacious, focused, and persistent in their pursuit of an affordable mortgage. Your home is at stake, and a successful application allows you to keep your home.

By studying the guidelines; being diligent, complete and truthful in your application; and persisting in your qualification process, a Bank of America loan modification may well be yours. Take the time and invest the energy in doing the application properly, by understanding the bank’s approval guidelines. Ask any necessary questions for proper completion of the paperwork. Get the help you need and keep your home, as homeowners across the country continue to do. You too can do it!

Premium Finance – Create Wealth And Retire Early

Premium Finance – Create Wealth And Retire Early

Hello, this is Lynette, a Relationship Manager from Premium Finance. I had the most delightful clients in the other day who wanted to go into an investment with their son and daughter -in-law, the motivation being that the son wanted to create wealth and retire early, not like Mum & Dad who were still working in their late fifties.They offered their home as security which was a lovely and generous offer however they didn’t understand the ramifications of doing this. The wanted to borrow the money from the bank in all their names and have a 25% share each in the investment.
The first issue I found was that Mum & Dad had very little superannuation and actually needed much more assistance then the young couple. If the four clients had of went ahead with their plans without seeking advise they would have held each other back in their attempt to create wealth. A bank will take the stand that even though the debt is in 4 names, they take it that each individual actually is responsible for 100% of the repayments on that debt. It is like the other 3 parties don’t exist. This would have resulted in all parties being liable for the debt and as a result each individual would have struggled on their income to obtain any more borrowings from the bank for future investment. This meant that they would have had only the one investment which would not have created the wealth they were seeking. The solution to the problem was that Mum & Dad did assist their son into an investment but in his and his wife’s name only. Mum & Dad also went into their own investment and are on target to do another investment in 6 months thus increasing their asset position and provide an income in retirement. Getting the right loan structure can be vitally important sometimes especially in this case and getting professional advise is a very wise move. Remember the Bank is not your friend and doesn’t have your best interests in mind – WE DO THOUGH !

Significance of loan modification to protect property foreclosure in Las Vegas

Significance of loan modification to protect property foreclosure in Las Vegas

You can save your property like homes from the foreclosure procedures if you have some effective alternatives in your mind to deal with the hefty installments that need to be paid every month for the mortgage loans. Yes, there is no denying the fact that you will be capable of restructuring the loan amounts with a fresh start if you are really unable to pay the monthly installments to the creditor. It has been often seen that people are confused and frustrated enough to find a feasible and most viable solution for this problem of loan non-payment and they let their assets to be foreclosed. In such odd conditions, loan modification is the only solution to save the property foreclosure and it will also allow you to repay the loan amount completely.

Eligibility to opt for modification of loan terms

Well, everyone who has taken some sort of loans from the creditors is not eligible for the modification of loan amounts rather there are some criteria that must be fulfilled by the debtor. There are debt relief lawyers in Las Vegas that will help you in fixing the criteria and other loan issues which might have deprived you of your assets and property. In fact, the person should be fully incapable at the financial front to pay the loan amount along with monthly installments. You will have to detail out all the sources of income and monthly expenses due to which you fail to deposit the loan installments. On the other hand, there are a few reasons due to which you might become unable to pay your loan such as prolonged illness, loss of job or fatal accidents that can be considered as viable causes for modification of loan.

Modification of loans as the best solution

If the debtor is fully aware of the fact that loan cannot be repaid at any cost with current incomes, you should definitely opt for the effective modification of loan with fresh interest rates and lower monthly installments. This type of move will certainly save your property from immediate foreclosure which is common occurrence in the life of people. This process of modification will allow the debtor to get enrolled in new loan type of either with fresh loan terms or loan refinancing which will cover your financial crisis. If you are also entangled in the same situation of non-payment of loans, loan modification las vegas is something which will help you in sorting out the major problems.

Author Resource:

The Author is conveying information about Las Vegas Foreclosure Services and loan modification las vegas. You’re probably thinking, everyone says that, so, what’s different here. It’s the commitment of quality, genuineness, and a guarantee that values your time and interest.

Msc Accounting And Finance At The University Of Southampton

Msc Accounting And Finance At The University Of Southampton

If you are thinking about applying to enrol on the MSc Accounting and Finance masters degree at the Management School at the University of Southampton, then here is a quick overview of the course.

The Accounting and Finance MSc course is designed to meet the needs of students who have some knowledge of accounting and finance and who wish to extend their knowledge to an advanced level.

Students who have studied very little accounting or finance and have little relevant work experience are likely to find the programme very challenging indeed.

This MSc Accounting and Finance masters degree course consists of a core covering the main areas of accounting and corporate finance, and a research methods course that supports the dissertation.

Options available on this programme of study allow students to study particular aspects of accounting or taxation in more depth.

For example, there is a pathway within the programme that allows students to concentrate on research-oriented training and more advanced aspects of accounting and finance.

Your understanding of the subjects covered and your ability to use the knowledge and skills gained will be enhanced through a variety of methods and strategies on the MSc Accounting and Finance masters degree.

If you wish to apply to study this MSc in Accounting and Finance you should complete a University of Southampton application form and return it to the Academic Registrar.

Your application to study MSc Accounting and Finance will be carefully considered by a specialist member of the academic staff who will weigh up many factors; not only your academic achievements, interests and aptitudes, but also your motivation and your referee’s confidential report.

At the Management School we make our decisions in most cases on the application form and supporting documents alone. However, candidates who require special consideration, e.g. on grounds of age, disability or non-standard entry qualifications may be interviewed.

Writing An Effective Hardship Letter To Avail Loan Modification

Writing An Effective Hardship Letter To Avail Loan Modification

A hardship letter is the most important piece of document required to apply for loan modification. Its substance and validity will make or break an attempt for a loan workout. This is a letter basically contains an explanation why there is a difficulty of settling mortgage amortization. It is only fitting to compose this letter carefully.

When writing a hardship letter, its important to remember to keep it short, concise but not arrogant. A one to two pages maximum letter is strongly advised. Take note that a lender does not have the luxury of time to read a novel-like hardship letter. This letter serves as outline of ones difficulty to pay for periodic amortization, so it should be direct.

Like any letter, begin with a proper salutation, use font type and size reasonably easier to read. Letter size or 8.5 by 11 inches will be the papers size; otherwise an A4 sized paper can be used.

Bear also in mind that there is a clear definition of the term “hardship” for availing loan modification. Such hardship should fall under listed by mortgage lenders. Such as bankruptcy of business, immediate relocation, or divorce from a spouse who is the co-borrower. There are still more to this, to be sure homeowners should check with their lender.

In the actual writing, the first sentence should tell why such letter is written. This may include the explanation that after all possible ways were exhausted theres still failure to meet with mortgage payments. Much of this should be in the first paragraph of the letter.

The second paragraph should describe the events that affected failure to make regular payments. This description should be done tastefully without being overly dramatic. Overly thought out explanation might appear deliberate and fake. Additional paragraph might be added to explain the intent for loan modification pursuant to financial difficulty.

It is also wise to give approximate, if not exact, duration of the hardship period. This will be the basis for the mortgage lenders to get a head start with its response for loan modification. The last paragraph should emphasize the desire to settle the loan, but asking for leeway, for the time being.

Then end the letter with parting words hoping for a loan modification, which will be favorable to both parties. It is also wise to mention about attachments to the hardship letter, which are proofs of financial difficulty claim.

Choose Medical Equipment Finance To Remain With Technology Advancement

Choose Medical Equipment Finance To Remain With Technology Advancement

Equipment leasing has become a better advantage with everyone of us. With technology advancement in every field, it has got hold of medical community too. Medical equipment can be so expensive and out of date in a matter of a few years that everyone is opting for medical equipment finance these days. Cash flow and patient care are the two major concerns on the mind of people who are into this business. It is a very sensible thing for hospitals and private physicians to do to keep up with the technology and provide their patients with the best health care.

You have option to buy the equipment anytime during the lease or even at the end of the leasing term. In this way you can know whether the equipment will be beneficial for you in the coming years before you make a huge cash investment. The biggest advantage is that you are able to keep the state- of -art. This ensures optimum patient care and improves profit. If you had the right medical equipment finance, you would earn quite a bit of revenue as your patients will be getting better equipped facilities and the diagnostic tools at their disposal for tests. What more you can expect when your obsolete equipment is replaced with a newer one with latest technology. Moreover, you are not stuck with an instrument that you cannot use any more or even resell.

You can acquire sonogram, endoscope, ultrasound equipment,surgery tools, oxygen tanks, optometry equipment, orthopedic equipment,medical beds, oxygen machines, wheel chairs, x-ray film processing equipment and so on easily with the help of a reliable equipment leasing company. When it comes to big hospitals or health care institutes, medical accounting equipment becomes essential for handling accounts receivable, payable and with other accounting roles too. It is indispensable for big health care institutes and seeking the help of financing company to acquire this equipment is necessary.

Typical lease terms are for 6 months to five years. And it is best if your cash is strapped or you want to conserve your cash for business. This will enable you to obtain the needed piece of equipment without a major cash outlay.

Getting Legal Help for Mortgage Modification

Getting Legal Help for Mortgage Modification

Apart from losing your property, a foreclosure may also mean a negative impact on your credit score. How do you prevent this from happening? Sometimes, financial problems may lead to failure in mortgage payments that inadvertently lead to foreclosure. In such a situation, a mortgage modification may be an effective solution.

How do you approach this? It is necessary to get advice from a real estate attorney to handle it properly. He/she would have in-depth knowledge of the Illinois laws relevant to the matter. The following tips could help if you are trying to get a modification to the mortgage plan.

Plan every detail. Initially, this was available for homeowners in default, for a period of 90 days. However, nowadays, this is not a requirement. If your financial situation seems grim, it is better to plan even before you actually default on your loan. This gives you enough time to prepare for it.

Get legal advice. Consulting a real estate attorney in Chicago can be of immense help. A legal professional specializing in loan modification may help you with the planning and negotiation. Moreover, he/she could also help you find out the actual lender, whom you have to negotiate with to avoid foreclosure.

Gather all relevant documents. You would need to provide your lender adequate details pertaining to your financial situation, especially the income and expense details. Therefore, you need to gather documents like your pay-stubs, income tax return, savings and other assets, second mortgage or other credit and so on.

Prepare the hardship letter. This helps the lender understand the reason you got into the financial mess. Explain the details of your situation, and the reasons for it, in simple and lucid terms. Do not exaggerate or fabricate. Do not write a very long letter (no lender would have the patience of going through a five page letter).

Negotiate with patience. You can do it on your own if you have enough knowledge and experience. Get your attorney for help if you are not very confident. Do not settle for an amount that you would be unable to pay. Negotiate with the lender in the presence of your attorney. Still better, let the attorney do it on your behalf.

Finally, do not opt for an attorney who asks for upfront fees. You may be in for a shock as many such services are fraudulent. Choose a reputed and reliable legal advisor to prevent the foreclosure.

If you have come across any legal issues and do not know what to do and whom to ask, exploit this Houston Lawyer Directory to hire a professional lawyer to deal with your case.

Bookkeeping Means Systematic Records Of Financial Transactions

Bookkeeping Means Systematic Records Of Financial Transactions

Business ideas are listed with the bookkeeping services. Like a financial advisor you can be assisting your web visitors using the daily projects of economical documentation. The services you provide are very a lot like an accountant los angels with the real change that you will never to blame for examining information or auditing economical statements. You main work is usually to collect and acquire on the information and perform the primary numbers engaged, the take a look at conclusions.

You need to be high information focused and get above regular good feeling. To get going you ought to already have labored in relevant areas and that means you recognize how the projects associate plus your customers do not possess frustrating excitement. Begin with promotion to the classifieds, magazines, and company online forums, you must system with experts around the area exclusively Qualified Public Agency and company experts and entrepreneurs, also be section of an organization It is possible to cost $30 to $50 hourly or you can perform transaction information with every customers just like hourly or monthly.

You are able to perform either at home or journey on the workplace of the customer, in any event you continue to should journey to their own workplace to buy the info you must collect and the lending company to create remains for the customer. With that said keep a count within your usage then it will not terminate your pay. You do not need staff unless your small business develops, in which case you might additionally need affiliates. This can be a probability of those that have problems. For internet hyperlinks strongly related tag research for that Nationwide Association of Qualified Bookkeepers, the nation Institution of Professional Bookkeepers and bookkeeping help. These bookkeeping services in Georgia also are worth spending the penny inside a useful way.

A bookkeeping server is a which, by description, keeps your guides. You provide them with the accounts as well as the expenses and they go into the facts into a book to provide you a practical bookkeeping to use your company are economically in those days. It is actually nearly the entrepreneur to produce the accountant all of the statements and accounts so they really may keep precise guides. The accountant helps keep your guides only but not produce IR tests, financial lawful organizations, or anything outside of the whole world of just doing the data tweaking your guides immediately.