Become Familiar with Mortgage Refinance Terminology

By Madeline Hernandez

When thinking of a Mortgage Refinance for a commercial property, you may want to consider becoming familiar with the terminology to help understand how the process will play out. This will increase your knowledge and help you prepare yourself for what to expect.

Long before I became involved in Real Estate, I would hear terms mentioned in regards to Residential and Commercial Loans and Mortgage Refinance options, ARMS, Balloons etc. I was just getting started in this industry and had absolutely no experience in any real estate or financing, so these terms were like a foreign language. I realized very quickly that without thorough knowledge of the terminology it is hard to understand what direction you will go.

The initial thought process you had used before will be slightly different from the one used to prepare for a Mortgage Refinance. You had to think about the time it will take to secure a loan this size. It is possible for the amount of time specified on the contract to purchase could expire before you get funded, protection from default on such a large loan, not to mention collateral, down payment, closing costs and so on, not too unlike a mortgage on a house. Although, some of these items are the same, it can become very complicated on a loan this size for a commercial property as you get further along. You also, at some point, had to make sure you can handle such an obligation by speaking to your Financial Advisor and your Accountant about how long your finances could carry the loan if things don't go as planned.

You had to make sure you can handle such an obligation by speaking to your Financial Advisor and your Accountant about how long your finances could carry the loan if things don't go as planned.

Before we move onto Mortgage Refinance terms let's recap what terms you had to learn before, such as 1031 Tax Exchange, Environmental Reports, what type of commercial property qualifies for what type of loan, which is a lot for one to learn, the difference between Conduit and Mezzanine Loans, and so on. Most importantly, you had to find a great Broker that offers a variety of innovative loan programs for your specific need. So now, it is time to look at Mortgage Refinance.

You will find out some things are a little different when it comes to Mortgage Refinance. The terminology is a little bit different. You start looking at possible Cash Out Proceeds, and maybe you want to "inject" the money you cash out into another property or use it to remodel the current property, what is the Discounted Cash Flow, Current vs. Proposed, will you have prepayment penalties?

It is very important to look at how closing costs will affect the equity you have been building over the years. Two of the biggest reasons people look at Mortgage Refinance, are 1. To get a lower interest rate than they currently have, this means lower monthly mortgage payment (less payment more, more cash in your pocket). Second reason people refinance their mortgage is to "cash out" some of the equity they built in time and invest it in a new project.

Remember that knowledge is power, so stay informed by reading and researching your topic.

About the Author:

This Article is brought to you by EFD Commercial InvestmentsINC. For More information about Mortgage Refinance Options Contact them at info@efdcommercial.com. Click here to Submit Article

Preparing Your Taxes Online Removes Some Of The Pain From April

By Steve Collins

Did you decide to prepare your taxes online last April 15th or were you among the sleep-deprived, nervous in line at the Post Office? Were you annoyed by the amount you had to pay for having your taxes filed by the tax service in the mall? Were you troubled by the slips of paper and forms that may as well have been written in medieval Flemish?

You could have been smiling, smug in the knowledge that you had chosen the option of preparing and submitting your taxes online and your refund had already been in the bank for weeks.

If you are unwilling to do your taxes online. possibly because you are not 100% confident in using your computer, dont let that stop you. Online tax preparation is not difficult. Most users agree that the process is simple and straightforward. The number of people doing online tax preparation has grown by leaps and bounds in the past three or four years.

Doing your taxes online is a time saving and reasonably priced option, especially if issues like proving hard-to-justify expenses do not complicate your return. Often, state tax forms can be prepared at the same time using the information obtained from the federal forms, (with the exception of state-specific items of course).

Typically, forms completed online show fewer mistakes. Whats even better is that preparing your taxes online speeds up the process, so your refund is in your hands much quicker.

So when tax time rolls around next year, why not go online and try online tax preparation? You will be relieved when April 15th rolls around and you are not among the masses in line at the post office.

About the Author:

Steve Collins is an author and journalist. In these trying times, he knows the importance of obtaining effective Credit Card Debt Settlement if necessary. Read his article about Credit Card Debt Settlementhere.

UK Drowning in Debt, Is Debt Management a Way Out?

By Phillip Evans

25 per cent of the UK adult population are saying their financially out of control with a major number, around one million three hundred thousand people, admitting their finances are entirely unmanageable, a report by the insurer AXA says.

AXA reported that mounting credit card bills are now putting just close to 3.8 million people under intense financial pressure and a further one million of UK borrowers are now struggling to keep up their repayments.

Half a million home owners have been threatened with a bailiff or eviction and personal county court judgements CCJs has increased in quarter 3 to their highest level since the start of 2007

The public interest Company that manages the register of judgements on behalf of the Lord Chancellor has reported that within England and Wales County Court Judgements rose by 17.4 per cent year on year to 223,519, its highest level since the beginning of 2007 and from the second quarter of 2008 this is a 25 per cent increase.

Individual insolvencies in England and Wales increased to 27,087 in the third quarter of 2008, up 8.8 per cent from 24,893 in the previous quarter.

Bankruptcies have increase by 12 per cent from 15,500 to just over 17,000 in the second part of the year and personal individual voluntary arrangements (IVAs) are too up 3 per cent from the three months previous.

The credit crunch could be blamed for the increase in corporate and personal insolvency throughout 2008, however, its patently obvious that further failures are going to be compounded by the recession throughout 2009.

Unfortunately the planned Simplified Individual Voluntary Arrangement SIVA, due out next year has been abandoned by the Insolvency Service

A simplified version of the IVA, for consumers with debts up to 75,000 and that would only require approval by a simple majority of creditors rather than the 75 per cent majority under normal IVAs, was due to be introduced in April 2009.

UK Home Owners unable to consolidate their debts using equity and are not wishing to go bankrupt have for the time being limited options between an IVA and a Debt Management Program.

About the Author:

Enable Finance Ltd offer a FREE impartial and confidential debt management help to ensure our customers don't sink in debt. For our Corporate clients Enable Finance has a dedicated business recovery unit if your business is facing debt problems.

No Documentation Loans - The Option for the Self Employed

By Gressly Stevens

Are you self employed, an independent contractor, or a tipped employee? If so, then you know how difficult it can be to find a loan or a mortgage. When you cannot prove your income it becomes very difficult to get a good mortgage.

There is a way that you can get a mortgage without many difficulties, though. You can use what is called no documentation loans to get what you need. Here are the situations that are perfect for the no doc type of loan.

If you are self employed and you do not claim all of your income for whatever reason, then a mortgage that does not make you prove your income is perfect. This is usually called a stated income program. You will basically say you make a certain amount and the mortgage company will not verify the information with paycheck stubs or W-2 forms.

You should have no problems getting the mortgage you need with a stated income program. You will not have to prove any income and you will be able to write down a number of what you really make. These programs started specifically for the self employed so don't be afraid to take advantage of them.

Another type of worker that could use a no documentation loan is the independent contractor. This person gets paid cash mostly and it can be very hard to prove income in this situation. This is another time where the stated income program works wonders.

Plus you will not have to worry about proving where you work or your income. This is one of the best parts about these programs is you do not have to prove much. This can help you get into the home you want or refinance your current mortgage.

One more situation that the no doc loan is great for is tipped employees. These are usually bartenders and servers, but anybody that makes the majority of their money from tips qualifies. This person typically does not claim all their tips and this makes it hard to prove your real income.

In order to get the mortgage you need you will have to use a stated program. This will allow you to say what you make with no verification whatsoever. They will not even send a verification to your employers because you will just provide a number and a signature.

When you use a program like the no documentation loans or the stated income mortgage you are not doing anything that will hurt you. It will have a bit higher interest rate because it is a little more risky for lenders, but that is about it. You should not be afraid to go this route if you fit the above situations.

About the Author:

Discover the companies that do No Documentation Loans. Go here for more info: Go Here Now For No Docmentation Loans

What Type of Business Entity will get the Most Corporate Credit

By Susan Carter

As you begin a new business venture, you have an important decision to make right at the beginning of your venture. Now you probably have already decided what kind of business - and even the name, but the entity structure is the most important. You need to know what type will be the easiest and most valuable for your company. Have you heard the words LLC, C-Corp, and S-Corp? If you answered yes, but dont really understand what they are, then read on.

You can use a number of business structures when creating your company. Each one comes with different benefits and liabilities. Here's an overview:

Sole Proprietorship " This is a one-person show in which the person running the business keeps all the profits, but also carries all the responsibility and liability. This is the least desirable form of business structure because of the huge personal risk that is involved for the business owner. Partnership " In a partnership, two or more people are the owners of the business. They usually put similar amounts of money and time into the business and they are all responsible for running the business. They also incur debt for the company and can be held personally liable if the company were to fail or be sued for debts. Limited Partnership " In a limited partnership there are at least two partners involved in the business, but they do not necessarily have the same level of responsibility or authority in the company. One or more of the partners will take part in decision making and the others are silent partners. Limited Liability Company (LLC) " This is the most flexible business structure and one of the easiest to set up. It is a good entity for a small or large business because it provides personal asset protection and offers an easy format for distribution of profits and losses. With this entity structure the liabilities of the company are only taken from business assets, not the personal assets of those who own the LLC. C-Corporation - There are two ways to file as a corporation: C-Corporation or S-Corporation. The C-Corp is the most structured form and the profits are taxed at both the corporate level and the stockholder level. There is no limit to the number of stockholders. This structure is taxed as a separate entity, unlike the S-Corp. The S-Corp is also a corporation but is limited by the number of stockholders it can have, which is 75. One of the advantages of this business structure is that the profits are not double taxed like they are in a C-Corp. This structure is a flow through entity, which means the profits and losses flow through to the personal tax return of the stockholders and are taxed on their individual tax return.

Financial institutions generally view the corporation structures and limited liability company structures as higher rated businesses. By picking one of these for your business it shows them a more professional picture, and thus they are more likely to offer business credit or trade credit to your new company.

About the Author:

Learn more about how to set up your business structure correctly and learn the pros and cons of each kind of entity. Learn how to present your company as an established business so that you can get business lines of credit from lending institutions and obtain vendor credit without risking your personal FICO scores.

Looking for Good Credit Repair Software? See What Others Think

By William Blake

The credit repair business is overloaded with companies and individuals who promise to help you repair your credit. You often hear advertisements on the radio and on television for the newest credit repair software program or website. The reason these ads are so prevalent is because many people have less than satisfactory credit. And when you talk to someone about fixing their bad credit, they often get a look of dismay on their faces.

With the right credit repair software a person can turn his own credit around without having to seek outside help from professional credit counselors or credit repair agencies. Some people have a lot of debt and feel that their situation is hopeless. But that is never the case. With the right program anyone can get their credit back on track.

The best way to find credit repair software that is worth looking into is to see what other consumers think about software they have tried. Some software is provided free of charge. Some you have to purchase. The best aren't always the ones that cost money. But you have to do your homework to make a wise choice.

Important Criteria

Good software will be user friendly and have good user support should you have any problems. When you are reading reviews you want to check to see what consumers say about these to aspects of the software. Also you want to be sure that its users were successful in turning their credit around and improving their credit scores. Once you get the opinions of other consumers see what the professionals think.

Getting a Professional Opinion

The experts also make their reviews on products and these can be found easily in consumer reports online or in books. When it comes to good credit repair software you wan to know what the computer experts think about the quality of the program. You also need a financial advisors opinion on what the software has to offer. These to points of view will help you choose the best software.

Even with the professional language and million dollar words you will be able to decipher whether a particular program will be a good buy for you.

About the Author:

Are you tired of barely keeping up with your credit card payment? Get some simple ways to pay off credit card bill on the Debtopedia website. Visit http://www.debtopedia.com for a free copy of my "Secrets Of Credit Card Debt" report.