Commercial Hard Money

A non-bankable commercial loan is described with the term, “commercial hard money.” This applies when a company or individual has assets or real estate that are enough to collateralize a commercial loan, but lacks standard criteria for a bank loan. A loan would be reluctant to lend if a property owner is losing money or has poor credit, additionally.When commercial loans involve taking higher risks than banks are equipped or willing to handle, hard moneylenders will lend what is termed, “Commercial Hard Money.” These results in a loan that costs much more to the borrower than a conventional loan would cost. For example, a conventional bank might charge a 7.5: finance rate and a single point, while a hard money commercial lender will typically charge from 11-13% and add three points.The commercial hard moneylender looks generally to the property itself as a possible source of repayment. Should the borrower not be able to make the loan payments on time or skips a payment, the commercial hard moneylender will likely foreclose on the property and sell off the collateral. However, the caveat is that the commercial hard moneylender does not really want to own a borrower’s commercial property.Typically, a commercial hard money loan is one that is understood to be over the short term. In fact, one-year loans are the most common types. However, the borrower should take care to ensure that negotiating a loan term of up to three years on the current market is in the mix. Contrary to popular belief, there is a lot of money available to finance good hard money deals despite the current state of the economy.Borrowers should beware of prepayment penalties and exit fees involved with a commercial hard money-financing situation. In the case of an exit fee, some lenders will charge a large fee if the borrower decides to pay off a loan that is not the pre-arranged due date. This is regardless of whether the pay off comes early, late or even on time. It is very important to read the fine print.Borrowers should also be cognizant of exorbitant late fees on any balloon payments. Hard money loans that are short term usually end up being paid off late. This is true for at least 70% of the time. It is common for hard moneylenders to attempt to add huge late charges on the balloon payments. These can be as high as ten points.

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Health Insurance and You

When you were born, it is a distant possibility that your parents immediately informed the company’s insurance provider to include your name in their policy. But there is a good possibility that you will do so for your child. Health insurance in India was a nonexistent industry till about 20 years ago but health insurance today has become a necessity and will be more so tomorrow.Even if you weren’t insured since your childhood, you found that your parents did not have any problem paying for your family’s medical expenses. Health services at that time were highly subsidized by the government, but today health services are entirely in the private domain which makes them highly expensive. Today, health services are beyond the means of most of us. So what we all need is adequate health cover that will buffer us against exorbitant medical expenses.This article will look into, health needs at various stages of life and health insurance plans for all of these:Infancy, Childhood: Everyone assumes that kids are the healthiest and hence do not require any health insurance. But it is also true that kids are very sensitive and thus require more extensive treatment if they fall sick. Malaria, jaundice, viral flu, dysentery are all the diseases that are commonly found in children and simple hospitalization for these could also be expensive.You can’t buy a policy for a child when he is very young, though there are companies that have entry age of 5. But you can add your child since the day is born or after 90 days of his birth in your policy if you are covered under Group health Insurance by your company. Another option is covering them in a Family floater, some companies accept children more than 3 months of age and others accept only after 5 years.When you cover your kids at an earlier age, they will not have to worry at a later stage about the pre-existing diseases and the waiting period, even the ‘no-claim discounts’ will be available which will reduce the overall premium rate.College: When you are just 18 the last thing that you will worry is about your health. It is also the age when you are your reckless best, driving fast, eating junk food and throwing caution to the winds. You will be keener on enjoying your time than filling out insurance forms. But all said and done health problems do come at all ages.If you are living in a different city from your home, then buying a health insurance policy is a good idea because you will be out of cash when a medical emergency occurs, at such times cashless service will be the most helpful.Single and Working: You have just started working and are getting the feel of freedom and financial independence that working brings. This is also the perfect age to get an individual health insurance besides the Group insurance that your company may provide. The reason to get an individual policy is that you can now afford to pay the premium with your own money. Also you need a back up in health insurance, in case that you change jobs, or your company decides to cut down on some of the health insurance benefits and you are left uncovered.With the Family: You have settled in your job, married, even have kids, so now is the time to consider buying health insurance cover for your family. Raising a family you know is a tight rope and one unplanned hospitalization can throw you into financial chaos. You cannot afford such hospitalization more than once or twice, in such times, having health insurance will make you relaxed at the health front.You can either take a Family Floater at this time or can take individual covers for all the family members. For a younger family, Floater seems a better option as it is much more economical but you have to share the cover amount among all the members. An individual policy on the other hand is expensive but gives separate cover to all the members.Retirement: You have retired and are about to embark a life away from the fast pace and the daily stress, but you are also worrying about your health that you have been ignoring since quite some time, will catch up with you and you will have to suffer from health issues.If you have still not bought a health insurance, it is high time you did. Now that you don’t have the company covering your health, it is up to you to ensure that you can afford hospitalization costs. You will find that most of the insurance companies have restricted entry age and demand a medical test before admission. There are Senior citizen policies that have conditions that suit the aged groups. The waiting period is also reduced to 1 year.After an expensive Hospitalization: You have undergone a surgery or medical treatment that had been expensive and now are rethinking whether the cover amount that you have will be enough for your needs. It is at this time the ‘Top-up’ Policy that comes to rescue. In this policy, if you have claimed a specific amount or the threshold amount for a treatment you can top up the cover amount with additional cover at a comparative cheaper rate. Top-up Policy will also have exclusions like waiting period of 30 days for coverage of any disease and 4 year exclusion for pre-existing diseases.Health insurance needs differ at different ages but the need for health insurance remains. So identify your health insurance needs and choose a plan that suits your needs.

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Choosing a Career For Life – Healthcare Industry Vs Automotive Industry

Choosing a career is an important goal for any individual. Most of us want to make a choice that will last forever. When looking into one field or another it is the long term benefits that help us make our final decision about what career path to take. The following tips will help you determine which career for life you are most interested in when thinking about the healthcare industry versus the automotive industry.As a healthcare provider you are providing your services for the welfare of the society and to the people. The healthcare field has many opportunities from working in hospitals and clinical facilities all the way to in home care. Often there are benefits and competitive salary packages for healthcare professionals. These benefits often make the healthcare industry an ideal choice. The automotive industry has a range of opportunities as well. You can be involved in the development and production of vehicle components. This will allow you to be a part of new technology when it comes to the cars we all drive. There is also the sales side of the automotive industry that allows you to provide service and a product to people.When you are thinking of making a choice like a career for life it is important to think about the features and benefits of your fields of interest. The following is a list of features and benefits that will help you choose between the healthcare industry versus the automotive industry.Helping the Society: A healthcare professional has the opportunity to provide care to a large number of people. Lending this helping hand to society is not only rewarding but satisfying as well. The automotive field on the other hand is to make a better product and to sell it at a high price. Most often what the bottom line profit is tends to be more important than customer satisfaction. In addition, working to develop new designs and keeping up with the latest technology can make for a stressful environment to work in.Training Programs: Considering the various levels of healthcare positions you are able to choose a program that specializes in the area you are most interested in. Once you complete a training program and have your diploma or certificate in hand you ready to start your career. In the automotive industry training is often conducted within the industry. Typically training is conducted for a period 12 to 24 months. You are educated on various subjects and then are able to choose the area in which you wish to specialize in.Education Levels: A healthcare career usually requires less than 4 years of college education unless your goal is to become a doctor or practitioner. There are several areas in the field that you start working in with just a high school diploma. In the automotive industry you are looking at 4 years of college education to be in the top salaried positions. There is little opportunity for the high school graduate.Choosing a career for life based on the above features and benefits can help you make an educated decision. When comparing healthcare vs. automotive industries the healthcare field is sure to be a more rewarding and achievable choice.

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