Tuesday, December 28, 2010

Mortgage and Loans - Mortgage Refinance, Home Loans

Mortgage and Loans - Mortgage Refinance, Home Loans

Countrywide Lawsuit

Posted: 28 Dec 2010 06:11 AM PST

LOS ANGELES (AP) – Countrywide Financial is accused of using misleading advertising and other unfair business practices to trick borrowers into taking on risky home loans they didn’t fully understand in a lawsuit filed by the California attorney general’s office today. The lawsuit was filed on the same day Countrywide shareholders approved the company’s takeover by Bank of America. The suit stems from information gathered under subpoena after the state launched a probe last year into the troubled company’s business. It also came on the same day Illinois attorney general filed a lawsuit alleging Countrywide engaged in “unfair and deceptive” practices to get homeowners to apply for risky mortgages far beyond their means. In the complaint filed in Los Angeles Superior Court, California Attorney General Jerry Brown asserts Countrywide violated the state’s unfair business practices and false advertising laws with just about every action it took to market and originate some of the most popular, and potentially risky, types of home loans in recent years. The lawsuit alleges Countrywide obscured the potential risks in the loans, misled consumers about payment terms, prepayment penalties and other obligations, and told borrowers they would be able to refinance before the interest rate on their loans adjusted.

The Reason Persons Want a Makati Condo

Posted: 28 Dec 2010 02:09 AM PST

Even with the tremendous expense of it, a Makati condo is nonetheless seen as attractive and exclusive lodging. This is partially by reason of its good reputation and in some measure since it is the nation’s economic capital.

It is no secret that Makati properties are perceived by the Filipino society as being one of the most esteemed examples of Manila real estate. The metropolis is the economic prime city of the Philippines, contains the most outstanding foreign traders and business districts, and is a local choice among the most important and trustworthy land developers. A Makati condo is high-priced – especially for the ordinary Filipino who barely has sufficient to scrape by on an every day basis – but it is furthermore a sign of possessing the prosperity and esteem essential to make one’s way in the Philippine equivalent of The Big Apple.

Considered one of the main explanations a Makati condo is extremely cherished is thanks to the metropolis’s position in Philippine pop tradition. Makati is the metropolis for business leaders, for movers and shakers, and for the power players in the regional overall economy. It is the residence of the old rich which, right until not long ago, dominated Philippine industry. The concept of residing in Makati is one that attracts many persons in the country for the reason that it is a symbol of having a standing of being on the same level as the dominant political and fiscal organisations in the region. Residing in Makati is, on some level, a sign that someone has transferred up the socio-economic ladder and is better than the less well off segments of the society.

You can find likewise very realistic factors for why Manila real estate is at its most high-priced in Makati. The most significant land developers in the region, just like Ayala Land, make it important to utilize the town as the position where they construct their most serious, most esteemed undertakings. As a consequence of the location’s position as a significant fiscal section, land builders comprehend that even when they spend plenty of dollars on offering the top lodgings and attributes for a Makati condo, they will be benefiting from it in the long-term. The area has a near-continuous ebb and flow of traders, business people, professionals, and executives, and many of those would choose living agreements within just the metropolis. That offers a marketplace that land administrators can dependably make use of and that their opposition can at the same time, which implies they will try to get the best of each other with regards to Makati condo conveniences, characteristics, and luxuries.

Makati’s popularity in Manila real estate as a spot of ease, stability, and top quality relating to housing options also has a significant part in making the average Makati condo much more interesting. The Philippines, even with being appreciably more westernized culturally than nearly all international locations in Asia, still possesses a holdover from strong Chinese social influences that means they are partly preoccupied with maintaining image and reputation. This carries over, slightly, in the improvement ventures in Makati. Because it received a societal image as a position where the good quality of living is more than the rest of the country, builders are hoping to keep it up. Culturally, this keeps the town’s look and feel. In a financial sense, it also functions as a means of trying to keep the market excited about what exactly is readily available.

The high regard and reputation that is linked to a Makati condo, or any type of property in the metropolis, is one that may be ingrained in the modern-day Filipino mindset. Makati is viewed as the position to be for individuals who prefer to be prosperous. The charm of such a position, imaginary or authentic, is challenging to refuse.

The author is a real estate property professional with a lot of knowledge with Philippines Real Estate.  To read more, and to evaluate accessible Makati properties, check out Rentinmakati.com  today.

More People Drop Out of Mortgage-Aid Program

Posted: 27 Dec 2010 03:54 PM PST

FBN’s Robert Gray on how the number of people who have fallen out of President Obama’s mortgage-aid program rose to 774000 in November.

Factoring Receivables – Tips On How To Sell Your Debtors

Posted: 27 Dec 2010 10:39 AM PST

Factoring receivables is a type of transaction where a business firm sells its debtors, also known as accounts receivables, at a discount to a invoice factoring firm for immediate payment. The key benefit for the business firm is that it will be paid the agreed cash price up-front as soon as the transaction is agreed upon, boosting its cash flow. A second benefit is that the business firm will no longer be concerned by debtor default risk.

For example, a commercial firm has an accounts receivable balance of $10,000 with an average credit period of 30 days. That commercial firm may be offered $9,000 for those receivables by a factoring firm, representing a factor of 0.9 or 90 percent. If this offer is accepted, the receivables are then owned by the factoring firm and it has the task of collecting the $10,000 amount from each of the individual debtors.

In this example, the $1,000 gap between the $10,000 book value and the $9,000 price paid for that book value represents the discount accepted by the business for its receivables asset. The size of this discount covers the risk of non-payment or default by debtor customers, time value (cost) of funds and the profit of the factoring firm.

Any non-payment by debtors is a penalty or cost borne by the factoring firm. If it suffers an 8% or $800 default rate, it receives only $9,200 from debtors at the end of the 30 day credit period, not $10,000. Allowing for this cost, the factoring firm may be calculated to enjoy a gross profit of $200 / $9,000 = 2.2% per month or 30.2 % per annum.

The time cost of funds relates to the opportunity cost borne by the factoring firm by foregoing the opportunity to earn a return from a risk-free investment. By using $9,000 to acquire the debtors, the factoring firm loses the opportunity to invest $9,000 in the money market in a risk-free account based on government notes. If the interest rate applying on that money market account is 0.5 percent monthly (6.2 percent yearly), the factoring firm loses the opportunity to generate a worry-free return of $45.

The factoring firm has effectively traded a $45 risk-free profit for a profit that has risk. As it happened, this risky profit turned out to be $200. In other words, by forsaking $45 the factoring firm has earned an incremental $200 – $45 = $155 profit. This incremental profit is the reward for bearing the risk of non-payment by debtors. It calculates to $155 / $9,000 = 1.72 percent monthly or 22.7 percent yearly.

To earn this incremental 22.7 percent yearly profit, the factoring firm has to accept the risk of an infinite number of possible outcomes, especially losses. For example, if the non-payment rate by debtors had of been, say, 12 percent rather than 8 percent, then the factoring firm would collect only $8,800 at the end of the 30 days and incur a loss of $200 instead of a worry-free profit of $45.

Businesses wanting to sell their receivables will be asked by the factoring firm to submit profile information about itself and its customers. The objective of the asset based lending firm is to assess the credit standing of the customers of the business. The profile information will cover the name and address of the business, its activities and, most importantly, its aged receivables report. If at all possible, the firm will rate the credit standing of the customers as stand alone entities independent of their credit performance with the business.

How do you find insurance companies with the best claims ratings?

Posted: 27 Dec 2010 08:52 AM PST

I want to buy insurance, and get a good deal, but want to make sure they are well-rated for handling their clients claims.

Posted by Blogku at 7:13 AM

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