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Suggest You - Home Mortgage and Financing Terms
Whenever you're listening to one of the big names in internet marketing you hear the same speech over and over again when it comes to viral marketing. The number one advice is, write an eBook and give it away for free.You might ask "What is viral marketing and why should I give something away for free after I spend weeks to create it?". On another note you probably don't even know how to write an eBook and what to talk about.First things first. Viral marketing is exactly what the name implies. You create a marketing effort that spreads like a virus. No, not the kind of virus you fear on your computer. Here's an example.You are running a home business and you're getting pretty good in attracting new customers, but you're working more and more hours to generate this traffic to your business. Well, there are only 24 hours in a day and there's only so much you can do.No you have 2 options. Option 1: Hire an employee to help you with your workload or motivate somebody else to promote your product. I don't know about you, but the thought alone having employees gives me the creeps. If you ever had to deal
HUD/RESPA (Housing and Urban Development/Real Estate Settlement Procedures Act): A document and statement that details all of the monies paid out and received at a real estate property closing.
-Hybrid adjustable rate mortgage: Offers a fixed rate the first 5 years and then adjusts annually for the next 25 years.
-Interest rate float: The borrower decides to delay locking their interest rate on their loan. They can float their rate in expectation of the rate moving down. At the end of the float period they must lock a rate.
-Interest rate lock: When the borrower and lender agree to lock a rate on loan. Can have terms and conditions attached to the lock.
-Loan: An amount of money that is lent to a borrower who agrees to repay the amount plus interest.
-Loan application: A document that buyers who are requesting a loan fill out and submit to their lender.
-Loan closing costs: The costs a lender charges to close a borro
There are countless ways you can drive traffic to a website. There are methods that require a lot of outlay and there are those that require little or nothing as far as spending cash is concerned.Spending much or spending at all in cash is optional. Incidentally, the highest quality traffic you'll get will be from sources that cost less money. They usually require a time investment -- That's not optional unless you outsource such tasks and even at that, you'll have to supervise to make sure your instructions are followed to the letter.Here is one of the most subtle of all traffic campaign money wasters...Spending on PPCs without first setting up a search engine friendly website: Yes, you can drive massive traffic to your site with the pay-per-click solutions from Google and Yahoo. However, if you don't know what you're doing, you'll flush a lot of cash down the drains.Even if you know a lot about using this technique, you don't really own your traffic. The moment you stop paying you stop getting traffic. That's not good.Furthermore, your margins are narrowed and unless you really have a produ
-Adjustable rate mortgage (ARM): A type of mortgage loan whose interest rate is tied to an economic index, which fluctuates with the market. Typical ARM periods are one, three, five, and seven years.
-Affordable housing loan: umbrella term used to cover various loan products targeted to first-time homebuyers.
-Annual percentage rate (APR): The total costs (interest rate, closing costs, fees, and so on) that are part of a borrower’s loan, expressed as a percentage rate of interest. The total costs are amortized over the term of the loan.
-Application fees: Fees that mortgage companies charge buyers at the time of written application for a loan; for example, fees for running credit reports of borrowers, property appraisal fees, and lender-specific fees.
Appraisal: A document of opinion of property value at a specific point in time.
-Assumable loan: existing mortgage loan that can be assumed by another person; most conventional loans are not assumable; government loans are assumable with qualification of the new person.
-Balloon mortgage: A type of mortgage that is generally paid over a short period of time, but is amortized over a longer period of time. The borrower typically pays a combination of principal and interest. At the end of the loan term, the entire unpaid balance must be repaid.
-Bi-weekly mortgage: one-half of the mortgage payment is paid every two weeks, resulting in one extra full payment toward principal each year.
-Blanket mortgage: mortgage secured by more than one piece of property.
-Blended rate (or wraparound) mortgage: refinancing plan that combines the interest rate on an existing mortgage loan with current interest rate for an additional amount of loan.
-Bridge (or swing): loan used to bridge the gap when someone is purchasing a new home before they have gone to settlement on their previous home.-
-Budget mortgage: another name for a loan that included taxes and insurance along with the principal and interest payment (PITI).
-Installment sale (also called a land contract): usually a private agreement between a seller and buyer where title is not conveyed until all payments have been made.
-Carry-back financing: whenever a seller agrees to finance either the first or a second mortgage on the property.
-Chattel mortgage: a pledge of personal property to secure a note.
-Construction loan: short-term loan made during the construction of a house.
-Conventional mortgage: A type of mortgage that has certain limitations placed on it to meet secondary market guidelines. Mortgage companies, banks, and savings and loans underwrite conventional mortgages.
-Credit report: Includes all of the history for a borrower’s credit accounts, outstanding debts, and payment timelines on past or current debts.
-Credit score: A score assigned to a borrower’s credit report based on information contained therein.
-Down payment: The amount of cash put toward a purchase by the borrower.
-Earnest money deposit: The money given to the seller at the time the offer is made as a sign of the buyer’s good faith.
-Escrow account for real estate taxes and insurance: An account into which borrowers pay monthly prorations for real estate taxes and property insurance.
-FHA (Federal Housing Administration) Loan Guarantee: A guarantee by the FHA that a percentage of a loan will be underwritten by a mortgage company or banker.
-Gift letter: A letter to a lender stating that a gift of cash has been made to the buyer(s) and that the person gifting the cash to the buyer is not expecting the gift to be repaid. The exact wording of the gift letter should be requested of the lender.
-Good faith estimate: Under the Real Estate Settlement Procedures Act, within three days of an application submission, lenders are required to provide in writing to potential borrowers a good faith estimate of closing costs.
-Home equity loan: either a lump sum or a line of credit made against the equity in a home.
HUD/RESPA (Housing and Urban Development/Real Estate Settlement Procedures Act): A document and statement that details all of the monies paid out and received at a real estate property closing.
-Hybrid adjustable rate mortgage: Offers a fixed rate the first 5 years and then adjusts annually for the next 25 years.
-Interest rate float: The borrower decides to delay locking their interest rate on their loan. They can float their rate in expectation of the rate moving down. At the end of the float period they must lock a rate.
-Interest rate lock: When the borrower and lender agree to lock a rate on loan. Can have terms and conditions attached to the lock.
-Loan: An amount of money that is lent to a borrower who agrees to repay the amount plus interest.
-Loan application: A document that buyers who are requesting a loan fill out and submit to their lender.
-Loan closing costs: The costs a lender charges to close a borrow
Employees have to be monitored and evaluated periodically to ensure that the management is aware of their performance as well as to suggest improvements if need be. When the employees are monitored and know that their performance will be appraised, they will put in their best efforts to do the job assigned to them well. Thus, employee performance reviews are an integral employee motivation and management tool as they determine if a raise, promotion etc. is due or if a person who has not been performing well consistently will be fired. These evaluations are necessary to increase communication, make clear what is expected of an employee, and motivate them to perform better, improve their performance and to make sure deserving employees are adequately rewarded.In order to conduct employee performance reviews, the management has to appoint a qualified person, who is knowledgeable about the employees’ job. Determine if there are ways to improve employee performance, suggest those improvements in such a way as to motivate the employee and be able to take the hard decision if the employee is being costly to the business and fi
-Assumable loan: existing mortgage loan that can be assumed by another person; most conventional loans are not assumable; government loans are assumable with qualification of the new person.
-Balloon mortgage: A type of mortgage that is generally paid over a short period of time, but is amortized over a longer period of time. The borrower typically pays a combination of principal and interest. At the end of the loan term, the entire unpaid balance must be repaid.
-Bi-weekly mortgage: one-half of the mortgage payment is paid every two weeks, resulting in one extra full payment toward principal each year.
-Blanket mortgage: mortgage secured by more than one piece of property.
-Blended rate (or wraparound) mortgage: refinancing plan that combines the interest rate on an existing mortgage loan with current interest rate for an additional amount of loan.
-Bridge (or swing): loan used to bridge the gap when someone is purchasing a new home before they have gone to settlement on their previous home.-
-Budget mortgage: another name for a loan that included taxes and insurance along with the principal and interest payment (PITI).
-Installment sale (also called a land contract): usually a private agreement between a seller and buyer where title is not conveyed until all payments have been made.
-Carry-back financing: whenever a seller agrees to finance either the first or a second mortgage on the property.
-Chattel mortgage: a pledge of personal property to secure a note.
-Construction loan: short-term loan made during the construction of a house.
-Conventional mortgage: A type of mortgage that has certain limitations placed on it to meet secondary market guidelines. Mortgage companies, banks, and savings and loans underwrite conventional mortgages.
-Credit report: Includes all of the history for a borrower’s credit accounts, outstanding debts, and payment timelines on past or current debts.
-Credit score: A score assigned to a borrower’s credit report based on information contained therein.
-Down payment: The amount of cash put toward a purchase by the borrower.
-Earnest money deposit: The money given to the seller at the time the offer is made as a sign of the buyer’s good faith.
-Escrow account for real estate taxes and insurance: An account into which borrowers pay monthly prorations for real estate taxes and property insurance.
-FHA (Federal Housing Administration) Loan Guarantee: A guarantee by the FHA that a percentage of a loan will be underwritten by a mortgage company or banker.
-Gift letter: A letter to a lender stating that a gift of cash has been made to the buyer(s) and that the person gifting the cash to the buyer is not expecting the gift to be repaid. The exact wording of the gift letter should be requested of the lender.
-Good faith estimate: Under the Real Estate Settlement Procedures Act, within three days of an application submission, lenders are required to provide in writing to potential borrowers a good faith estimate of closing costs.
-Home equity loan: either a lump sum or a line of credit made against the equity in a home.
HUD/RESPA (Housing and Urban Development/Real Estate Settlement Procedures Act): A document and statement that details all of the monies paid out and received at a real estate property closing.
-Hybrid adjustable rate mortgage: Offers a fixed rate the first 5 years and then adjusts annually for the next 25 years.
-Interest rate float: The borrower decides to delay locking their interest rate on their loan. They can float their rate in expectation of the rate moving down. At the end of the float period they must lock a rate.
-Interest rate lock: When the borrower and lender agree to lock a rate on loan. Can have terms and conditions attached to the lock.
-Loan: An amount of money that is lent to a borrower who agrees to repay the amount plus interest.
-Loan application: A document that buyers who are requesting a loan fill out and submit to their lender.
-Loan closing costs: The costs a lender charges to close a borro
Soon after I founded my company in 1989 I realized that the greatest challenge I faced was learning how to hire employees and manage them effectively. As a new employer I quickly learned that without proper motivation many employees will do as little as possible to get by until payday. I had to find ways to motivate my employees to provide an optimal experience for every customer, every day. I learned that employee management and accountability ensures that the experience my company provides is desirable, leading to repeat customers.With the guidance of a good leader people often perform beyond even their own expectations. Continually motivating your employees is essential to having them perform at their best every day. Of course, if you hire qualified employees with proven track records your management hurdles will be lessened. Still, verbal and written communication are vital to effective leadership; therefore, your company policies must be clearly stated and strictly enforced.You must motivate employees to take responsibility for their own actions. Each employee should have the understanding that the success
-Budget mortgage: another name for a loan that included taxes and insurance along with the principal and interest payment (PITI).
-Installment sale (also called a land contract): usually a private agreement between a seller and buyer where title is not conveyed until all payments have been made.
-Carry-back financing: whenever a seller agrees to finance either the first or a second mortgage on the property.
-Chattel mortgage: a pledge of personal property to secure a note.
-Construction loan: short-term loan made during the construction of a house.
-Conventional mortgage: A type of mortgage that has certain limitations placed on it to meet secondary market guidelines. Mortgage companies, banks, and savings and loans underwrite conventional mortgages.
-Credit report: Includes all of the history for a borrower’s credit accounts, outstanding debts, and payment timelines on past or current debts.
-Credit score: A score assigned to a borrower’s credit report based on information contained therein.
-Down payment: The amount of cash put toward a purchase by the borrower.
-Earnest money deposit: The money given to the seller at the time the offer is made as a sign of the buyer’s good faith.
-Escrow account for real estate taxes and insurance: An account into which borrowers pay monthly prorations for real estate taxes and property insurance.
-FHA (Federal Housing Administration) Loan Guarantee: A guarantee by the FHA that a percentage of a loan will be underwritten by a mortgage company or banker.
-Gift letter: A letter to a lender stating that a gift of cash has been made to the buyer(s) and that the person gifting the cash to the buyer is not expecting the gift to be repaid. The exact wording of the gift letter should be requested of the lender.
-Good faith estimate: Under the Real Estate Settlement Procedures Act, within three days of an application submission, lenders are required to provide in writing to potential borrowers a good faith estimate of closing costs.
-Home equity loan: either a lump sum or a line of credit made against the equity in a home.
HUD/RESPA (Housing and Urban Development/Real Estate Settlement Procedures Act): A document and statement that details all of the monies paid out and received at a real estate property closing.
-Hybrid adjustable rate mortgage: Offers a fixed rate the first 5 years and then adjusts annually for the next 25 years.
-Interest rate float: The borrower decides to delay locking their interest rate on their loan. They can float their rate in expectation of the rate moving down. At the end of the float period they must lock a rate.
-Interest rate lock: When the borrower and lender agree to lock a rate on loan. Can have terms and conditions attached to the lock.
-Loan: An amount of money that is lent to a borrower who agrees to repay the amount plus interest.
-Loan application: A document that buyers who are requesting a loan fill out and submit to their lender.
-Loan closing costs: The costs a lender charges to close a borro
Debt consolidation programs for car loans help a person to get rid of debt in the quickest and most inexpensive manner. Debt consolidation programs for car loans eliminate the various monthly payments that a debtor makes to different creditors. Debt consolidation programs for car loans serve to improve credit balance as debts are paid. Many non profit organizations and agencies conduct debt consolidation programs. Debt consolidation programs select the most suitable service providers for their clients.When a client is approved for a debt consolidation program for car loan, all of his debt will be combined into a single monthly sum. A car loan is a type of secured debt consolidation loan. The client is required to place collateral with the creditors in order to get a debt consolidation loan. Most creditors decide the loan amount and interest rate based on the collateral security. A lower interest rate is the main advantage of a car loan. Car loans are also tax deductible. Debt consolidation programs help the client to get higher equity on the car loan. Higher equity value makes it easier for the borrower to get a higher
-Down payment: The amount of cash put toward a purchase by the borrower.
-Earnest money deposit: The money given to the seller at the time the offer is made as a sign of the buyer’s good faith.
-Escrow account for real estate taxes and insurance: An account into which borrowers pay monthly prorations for real estate taxes and property insurance.
-FHA (Federal Housing Administration) Loan Guarantee: A guarantee by the FHA that a percentage of a loan will be underwritten by a mortgage company or banker.
-Gift letter: A letter to a lender stating that a gift of cash has been made to the buyer(s) and that the person gifting the cash to the buyer is not expecting the gift to be repaid. The exact wording of the gift letter should be requested of the lender.
-Good faith estimate: Under the Real Estate Settlement Procedures Act, within three days of an application submission, lenders are required to provide in writing to potential borrowers a good faith estimate of closing costs.
-Home equity loan: either a lump sum or a line of credit made against the equity in a home.
HUD/RESPA (Housing and Urban Development/Real Estate Settlement Procedures Act): A document and statement that details all of the monies paid out and received at a real estate property closing.
-Hybrid adjustable rate mortgage: Offers a fixed rate the first 5 years and then adjusts annually for the next 25 years.
-Interest rate float: The borrower decides to delay locking their interest rate on their loan. They can float their rate in expectation of the rate moving down. At the end of the float period they must lock a rate.
-Interest rate lock: When the borrower and lender agree to lock a rate on loan. Can have terms and conditions attached to the lock.
-Loan: An amount of money that is lent to a borrower who agrees to repay the amount plus interest.
-Loan application: A document that buyers who are requesting a loan fill out and submit to their lender.
-Loan closing costs: The costs a lender charges to close a borro
I recently went through a batch of new and year old graduates and after parsing (testing, interviewing) 40 odd prospects only made two offers. How do you improve your chances as a candidate. What are some of the questions I would/should ask?The key attribute that distinguishes an outstanding small business employee is self awareness. In the last 13 years I have found self aware candidates to be more productive, more loyal, more resourceful and far easier to manage than candidates who were not.Here is my first installment of interview questions that I wish candidates would review before walking in for an interview and more technology business owners should ask. The looks that you get as well as the answers will tell you much about the self awareness potential of the person you are interviewing:1. A small business is a small business. Which means that if you have like structure and clarity you should stay away. If you like chaos and ambiguity, you should apply. Define structure, clarity, chaos and ambiguity?2. A product focused company is different from a custom software development shop. A product fo
HUD/RESPA (Housing and Urban Development/Real Estate Settlement Procedures Act): A document and statement that details all of the monies paid out and received at a real estate property closing.
-Hybrid adjustable rate mortgage: Offers a fixed rate the first 5 years and then adjusts annually for the next 25 years.
-Interest rate float: The borrower decides to delay locking their interest rate on their loan. They can float their rate in expectation of the rate moving down. At the end of the float period they must lock a rate.
-Interest rate lock: When the borrower and lender agree to lock a rate on loan. Can have terms and conditions attached to the lock.
-Loan: An amount of money that is lent to a borrower who agrees to repay the amount plus interest.
-Loan application: A document that buyers who are requesting a loan fill out and submit to their lender.
-Loan closing costs: The costs a lender charges to close a borrower’s loan. These costs vary from lender to lender and from market to market.
-Loan commitment: A written document telling the borrowers that the mortgage company has agreed to lend them a specific amount of money at a specific interest rate for a specific period of time. The loan commitment may also contain conditions upon which the loan commitment is based.
-Loan package: The group of mortgage documents that the borrower’s lender sends to the closing or escrow.
-Loan processor: An administrative individual who is assigned to check, verify, and assemble all of the documents and the buyer’s funds and the borrower’s loan for closing.
-Loan underwriter: One who underwrites a loan for another. Some lenders have investors underwrite a buyer’s loan.
-Mortgage banker: One who lends the bank’s funds to borrowers and brings lenders and borrowers together.
-Mortgage broker: A business that or an individual who unites lenders and borrowers and processes mortgage applications.
-Mortgage loan servicing company: A company that collects monthly mortgage payments from borrowers.
-Open-end mortgage: one where additional funds may be borrowed without changing other terms of the mortgage, typical for construction loans.
-Package mortgage: mortgage secured by a combination of real and personal property; often used for vacation property such as a cabin, beach condo, or ski chalet.
-Payoff letter: A written document from a seller’s mortgage company stating the amount of money needed to pay the loan in full.
-Portable mortgage: new concept; mortgage loan can be carried with you from one property to another.
-Pre-approval: A higher level of buyer/borrower prequalification required by a mortgage lender. Some preapprovals have conditions the borrower must meet.
-Pre-paid interest: Funds paid by the borrower at closing based on the number of days left in the month of closing.
-Pre-payment penalty: A fine imposed on the borrower by the lender when the loan is paid off before it comes due.
-Pre-qualification: The mortgage company tells a buyer in advance of the formal mortgage application, how much money the borrower can afford to borrow. Some prequalifications have conditions that the borrower must meet.
-Principal: The amount of money a buyer borrows.
-Principal, interest, taxes, and insurance (PITI): The four parts that make up a borrower’s monthly mortgage payment. Private mortgage insurance (PMI): A special insurance paid by a borrower in monthly installments, typically of loans of more than 80 percent of the value of the property.
-Purchase money mortgage: any loan used to purchase the real property that serves as collateral but usually refers to seller-held financing.
-Reverse mortgage: special program for senior citizens (62 or older), which utilizes the equity in the seniors’ home to provide additional income without having to sell their home.
-Secondary market: An institutional investment market that purchases mortgages from mortgage lenders.
-Sub-prime loan: loan with risk-based pricing for persons unable to qualify for prime conventional loans; typically has higher rate of interest; credit scoring and appraisal are critical.
-VA (Veterans Administration) Loan Guarantee: A guarantee on a mortgage amount backed by the Department of Veterans Affairs.
-W-2: The Internal Revenue form issued by employer to employee to reflect compensation and deductions to compensation.
-W-9: The Internal Revenue form requesting taxpayer identification number and certification.
-1031 exchange or Starker exchange: The delayed exchange of properties that qualifies for tax purposes as a tax-deferred exchange.
-1099: The statement of income reported to the IRS for an independent contractor
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