This document provides information on various homeownership topics including the mortgage process, types of mortgages, credit management, foreclosure, and protecting your investment. It defines key mortgage terms, explains fixed and adjustable rate mortgages, describes the components of a credit score and how to manage credit, outlines the foreclosure process and alternatives, and reviews different types of homeowners insurance. The document aims to educate homeowners and potential buyers on essential financial literacy concepts related to purchasing and maintaining a home.
A fantastic presentation on how the HECM insured mortgage program can help retirees and senior citienz alike . If you are Financial Planner and have your skepticism about it, then this is a must read. Call me if you want to hear more about it. With baby boomers entering retirement, there is no better time than now to think about the future
Tampa FL as a reverse mortgage consultant. Chris Beard works exclusively with senior homeowners seeking a reverse mortgage, a home financing program that allows mature homeowners to utilize the equity in their homes to supplement retirement income.
A guide to helping you understand your credit score.
Table of Contents:
Understanding your credit score 1
How much does a low score cost you 2
How are credit scores calculated 3
Cracking the code 7
Improving your credit score 9
In this presentation we will deal with the “Concept of Investment” and further discuss the purpose, speculation and strategies to be followed while investing.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
Inicial de demanda AMLO-Wall Street JournalAMLO-MORENA
Andrés Manuel López Obrador, presidente del Comité Ejecutivo Nacional de MORENA, presenta demanda por daño moral contra el periódico estadounidense Wall Street Journal
A fantastic presentation on how the HECM insured mortgage program can help retirees and senior citienz alike . If you are Financial Planner and have your skepticism about it, then this is a must read. Call me if you want to hear more about it. With baby boomers entering retirement, there is no better time than now to think about the future
Tampa FL as a reverse mortgage consultant. Chris Beard works exclusively with senior homeowners seeking a reverse mortgage, a home financing program that allows mature homeowners to utilize the equity in their homes to supplement retirement income.
A guide to helping you understand your credit score.
Table of Contents:
Understanding your credit score 1
How much does a low score cost you 2
How are credit scores calculated 3
Cracking the code 7
Improving your credit score 9
In this presentation we will deal with the “Concept of Investment” and further discuss the purpose, speculation and strategies to be followed while investing.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
Inicial de demanda AMLO-Wall Street JournalAMLO-MORENA
Andrés Manuel López Obrador, presidente del Comité Ejecutivo Nacional de MORENA, presenta demanda por daño moral contra el periódico estadounidense Wall Street Journal
Pubcon 2016 - How SEO's can Use PPC to hit their goalsWil Reynolds
I spent 3 months, focusing on how to use PPC as the way to do my outreach, build my traffic, get my links. This presentation will show how I went from total newbie @ PPC to just newbie, what I learned along the way, mistakes I made, money I wasted, what I learned.
BigWeatherGear Group and Corporate Services Brochure 2013Kristin Matson
Thank you for your interest in Bigweathergear.com Group Sales. We have been in business for over 20 years selling high quality outdoor gear. We specialize in Government, Corporate, and Group volume orders. Our staff of experts can help you fill your gear needs whether they are basic or very specific. We have custom logo applications available on most of the products we carry.
How to run system administrator recruitment process? By creating platform based on open source parts in just 2 nights! I gave this talk in Poland / Kraków OWASP chapter meeting on 17th October 2013 at our local Google for Entrepreneurs site. It's focused on security and also shows how to create recruitment process in CTF / challenge way.
This story covers mostly security details of this whole platform. There's great chance, that I will give another talk about this system but this time focusing on technical details. Stay tuned ;)
Building an enduring, multi-billion dollar consumer technology company is hard. As an investor, knowing which startups have the potential to be massive and long-lasting is also hard. From both perspectives, identifying companies with this potential is a combination of “art” and “science” — the art is understanding how products work, and the science is knowing how to measure it. At the earliest stages of a company, it comes down to understanding how a product is built to maximize and leverage user engagement.
In this presentation, Sarah Tavel shares her "Hierarchy of Engagement" framework she uses to evaluate non-transactional consumer companies she is looking to invest in.
10 Ways Your Boss Kills Employee MotivationOfficevibe
It’s so hard to have engaged employees. It’s such a delicate thing to try and get right because employees can be fragile.
As a manager, you have to do everything in your power to make sure employees are happy and engaged at all times.
Usually, the problem is the boss, and not things like the company, mission statement, or co-workers.
If you know that your boss is the biggest problem, there are ten things that they do to kill motivation. If you’re a manager and you’re reading this, make sure you avoid these mistakes to ensure that your employees are engaged during work.
The secret to good leadership is to be authentic. Be honest with your staff.
Read more on Officevibe blog:
https://www.officevibe.com/blog/10-kill-employee-motivation
like us on Facebook!:
www.facebook.com/officevibe
10 Insightful Quotes On Designing A Better Customer ExperienceYuan Wang
In an ever-changing landscape of one digital disruption after another, companies and organisations are looking for new ways to understand their target markets and engage them better. Increasingly they invest in user experience (UX) and customer experience design (CX) capabilities by working with a specialist UX agency or developing their own UX lab. Some UX practitioners are touting leaner and faster ways of developing customer-centric products and services, via methodologies such as guerilla research, rapid prototyping and Agile UX. Others seek innovation and fulfilment by spending more time in research, being more inclusive, and designing for social goods.
Experience is more than just an interface. It is a relationship, as well as a series of touch points between your brand and your customer. Here are our top 10 highlights and takeaways from the recent UX Australia conference to help you transform your customer experience design.
For full article, continue reading at https://yump.com.au/10-ways-supercharge-customer-experience-design/
http://inarocket.com
Learn BEM fundamentals as fast as possible. What is BEM (Block, element, modifier), BEM syntax, how it works with a real example, etc.
How to Build a Dynamic Social Media PlanPost Planner
Stop guessing and wasting your time on networks and strategies that don’t work!
Join Rebekah Radice and Katie Lance to learn how to optimize your social networks, the best kept secrets for hot content, top time management tools, and much more!
Watch the replay here: bit.ly/socialmedia-plan
As humans, we never fail to think that we are highly intelligent beings, and that we are mentally superior than any other creatures found on Earth.
Well, that...... may be true.
However, we can be equally stupid and dumb too.
Worse still, we don't even realize it - in terms of how we can make erroneous judgments, decisions and choices, based on how our mind processes and filters information, as well as how our belief system works.
As intriguing and exciting this topic is to me, I find it difficult to illustrate the concepts involve, and that took me nearly 6 months to complete this work. (The Planning Fallacy in play?!) Throughout writing this deck, I've made a total of 8 major revisions before coming to this final piece.
I hope you'll find this deck both interesting and useful!
Using Credit is part 4 of the 6-part Money Matters class, created by the Athens-Clarke County Library. Money Matters is part of Smart investing @ your library®, and is brought to you by a joint grant from the American Library Association and FINRA, the Financial Regulatory Authority Foundation.
This is a basic slideshow about the costs and benefits of credit. Especially informative for young adults or those who are applying for credit for the first time.
If you are wondering how to improve your credit score, then there are some habits that you need to adopt to build your credit history and improve your credit score.
Website - https://decs-wekilldebt.com
Understanding Your Credit with SpringCoinCarrie Smith
A complete presentation from SpringCoin on Understanding and Improving Your Credit Score. How to establish or re-establish credit properly to save money and pay down debt.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
8. BASIC MORTGAGE MATH
The maximum amount a lender will
loan based on constraints including
income, debt and available cash.
Home Sales Price
x Loan to Value
(LTV)%
______________________
Maximum Loan Amount
11. MORTGAGE DEFINITIONS YOU
SHOULD KNOW….
PRINCIPAL-is the amount of money that
you actually borrow or the amount of the
loan that is still unpaid
INTEREST- is the charge for using the
lenders money.
FIXED-RATE MORTGAGE LOAN- means
you will always pay the same rate on
interest
12. MORTGAGE TERMS YOU
SHOULD KNOW
ADJUSTABLE RATE MORTGAGE -
means your rate will increase or
decrease once or twice a year.
TERM- is the amount of time you have
to repay the loan.
POINTS - refer to the type of fee the
lender may charge.
13. MORTGAGE TERMS YOU
SHOULD KNOW
DOWNPAYMENT REQUIREMENT- is the
lenders lowest allowable down payment
and is part of the purchase price that
the buyer pays in cash.
CLOSING COST-are the expenses buyers
and sellers pay to transfer ownership of
a home.
15. How do you choose the right
Mortgage?
How many years do you expect to
live in your home?
How important it it to be free of
mortgage debt before facing long
term financial commitments?
How comfortable are you with the
certainty of a fixed mortgage
payment versus a payment that
can change over time.?
16. How do you choose the right
Mortgage?
How many years do you expect to
live in your home?
How important it it to be free of
mortgage debt before facing long
term financial commitments?
How comfortable are you with the
certainty of a fixed mortgage
payment versus a payment that
can change over time.?
17. FEATURES OF A FIXED-RATE
MORTGAGE
Easiest Fixed-rate loan to
qualify for
Most poplar
Best chance to keep
monthly mortgage
payments low
18. Advantages of Fixed-Rate
Mortgages
Interest Rate will remain the same for the life
of the loan.
Monthly mortgage payments will be stable
Predictable monthly mortgage payments
19. 30 year-Fixed Rate Mortgage
Easiest fixed rate loan to qualify
for
Most popular
Best chance to keep monthly
mortgage payments down
20. 20 year Fixed Rate Mortgage
Amortizes over a 20 year period
Offers the opportunity to own your
home debt-free sooner
Monthly payments somewhat
higher than a 30 year mortgage
21. 15 year Fixed Rate Mortgage
Offers lower interest rate than a 20
year fixed rate mortgage and a 30
year fixed rate mortgage
Initial monthly payments will be
lower
Interest rate changes are subjected
to two caps, one for each
adjustment period and one for life
of your loan
23. Interest Rate changes are
always tied to a financial
index. Three most popular are:
Treasury-Indexed ARMs
CD-Indexed ARMs
Cost of Funds-Indexed ARMs
24. Treasury-Indexed ARMs
Indexed to a six-month, one
year or three year Treasury bills
or securities
Your interest rate will adjust to
one of the terms you choose (6
month, 1 year, 3 year)
25. CD-Indexed ARMs
Adjust to a Certificate of Deposit
(CD) index
Rate adjustments typically occur
every six months, with a per cap
adjustment of 1 percent
27. Costs of Funds Indexed ARMs
Indexed to actual costs a particular
group of lending institutions pays to
a borrower
Lenders using this index can adjust
mortgage rates monthly, every six
months or annually
Most popular: Cost of Funds Index
for the 11th Federal Home Loan
Bank District of San Francisco
29. Two-Step ARM
ARM that adjust one time
The first adjustment would
happen at five years and the
maintains a fixed rate
mortgage for the remaining 23
or 25 years of a 30 year
mortgage term.
31. BEWARE!
Offers lower interest rates
for shorter term - usually
financing 5,7 or 10 years.
At the end of this loan term
Balloon mortgages require
refinancing or paying off
the outstanding balance
33. Loan Terms You Should Know:
Annual Percentage Rate – shows costs of
loan expressed as a yearly interest rate.
Commitment Letter – stating your loan has
been approved.
Contingency – events that must happen
prior to closing.
34. LOAN TERMS YOU SHOULD
KNOW:
Conventional Mortgage – any mortgage that
is not insured by the Federal Government
Debt-to-Income Ratio- Percentage of total
debt payments to income.
Deed- legal document conveying property
Discount Point – equivalent to 1% of the
purchase price.
35. LOAN TERMS YOU SHOULD
KNOW:
Down payment – part of the purchase price
that the borrower pays in cash.
Earnest Money – Money put down by a
potential buyer to show that he or she is
serious
Equity – owner’s financial interest in a
property.
42. 42
Writing down your goals
Easily visible
Keep it simple
30 Day Challenge
Review and adjust
Fail to plan – Plan to fail
Keys to Successful MoneyKeys to Successful Money
ManagementManagement
43. 43
What Kind of Spender Are You?
The Miser - hoarding, stingy person
The Conservative - moderate, cautious
The Carefree - spends without care
The Big Spender – very generous
The Over spender - spending beyond limits
44. 44
30 Days to Success
Live Normal for 30 days
Track each expense – keep every receipt
Evaluate after 30 days
Create 30 day financial spending plan
Can’t Fail – simply adjust!
45. 45
Why Manage Your Money?
Prepares you for large expenses
Identifies wasteful spending
Keeps control of financial future
Encourages savings
Strengthens loan application
Helps to accomplish goals
46. 46
Three Steps to Planning a Budget
1. Write down your income
2. Write down your monthly expenses
3. Decide what to do with leftover
money
47. 47
What are Some Money
Management Tips?
Plan according to current income
Plan ahead for six months
Include spending money for all
Keep record-keeping simple
Set money aside for emergencies
Get consensus from entire family
Pay yourself first at least 10% of
take-home pay
48. 48
Tips for Savers
Pay yourself first
Open a savings account
Save change at end of day
49. 49
Review the Plan
Is your budget working?
Are all family members able to follow it?
Which costs always seem to be over
budget?
Are we getting closer to reaching our
goals?
50. 50
What Are Ways to Make Money
Management Easier?
Carry written reminders of goals with you
Carry as little cash as possible
Use direct deposit
Put items on layaway
Buy only what you need
51. 51
Spending Pie Chart (1)
Desired
Living
Entertainment
Savings/Investmen
t
Retirement
60%
15%
10%
15%
54. 54
Why is Good Credit
Important?
To rent, buy or purchase things you
want or need
To save money by borrowing at a
lower interest rate
To obtain a job
To lease rental property
65. 65
How Long Does Information
Stay?
Bankruptcy 10 years
Judgments 7 years
Tax Lien 7 years
Collection, Charge-Off 7 years
Most Adverse Info 7 years
Inquiries 2 years
66. 66
What Are the Main Credit
Bureaus?
Experian
www.experian.com
(888) EXPERIAN (397-3742)
Trans Union
www.tuc.com
(800) 916-8800
Equifax
www.equifax.com
(800) 685-1111
67. 67
Equal Credit Opportunity Act
Prevents lender’s discrimination
on the basis of age, sex, race,
marital status, religion or
national origin
Requires written disclosure of
reason for denial within 30
days
68. 68
Fair Credit Billing Act
Provides right to question if you
think your credit card bill is
wrong within 60 days
Requires creditor to begin
research within 30 days
Requires creditors to supply an
answer within 90 days
69. 69
Fair Credit Reporting Act
Protects your rights to know
what is in your credit report
and to fix mistakes
70. 70
Credit Summary
Credit is a useful tool
Order your report
Correct mistakes and fix
problems
Protect your credit rating
Manage your debts, so they
don’t manage you
72. 72
Foreclosure Process
California Process
Judicial
Non-judicial
Foreclosure Process Flowchart
Alternatives
Loss Mitigation
Modification
Deed in Lieu of Foreclosure
Repayment Plan
Pre-foreclosure Sale
73. 73
BUYING FORECLOSURES
When to buy foreclosures
Before the auction (Pre-foreclosure)
At the auction
After the auction (REO)
74. 74
What Are My Alternatives?
Special forbearance
Mortgage modification
Partial claim
Pre-foreclosure sale
Deed-in-lieu of foreclosure
75. 75
Precautions
Don’t sign papers you don’t fully understand
Make sure you get all promises in writing
Beware of any loans you are not formally
released from liability of your mortgage debt
and contracts of sale
Check with an attorney or your mortgage company
before entering into any deals involving your home
76. 76
Main Points to Remember
Make your monthly payments on time.
Contact your mortgage lender immediately and be
honest about your financial situation.
Have a plan to cure delinquency
Arrange an appointment with a HUD-approved
housing counseling agency www.hud.gov
78. 78
Protecting Your Investment
Types of Insurance
Homeownership Tips
Your Community
1. Police
2. Fire
3. Others in your community
79. 79
Types of Insurance
Hazard Insurance
Flood Insurance
Special Hazard Insurance
Mortgage Insurance
80. 80
Referred to as “Fire”
Insurance
Required by the Lender
Protects against hazards such
as fires or storms
HAZARD INSURANCE
81. 81
Liability Protection
Legal responsibility for any injuries or
property damage the owner or a family
member causes to other people
Protection of the other structures and the
homes contents
Living expenses, if displaced
HOMEOWNER’S INSURANCE
82. 82
Homeowner’s Insurance Features
Dwelling coverage
Other structures
Personal property
Loss of use
Personal liability
Medical payments coverage
Deductible
83. 83
FLOOD INSURANCE
Required by lender if the property is
located in a flood zone
Generally not covered under hazard or
homeowners insurance policy
Protects during heavy rain, failed
dams and inadequate drainage
systems
84. 84
MORTGAGE INSURANCE
Protects the lender in case the
borrower defaults and the lender must
foreclose
Generally required if the
downpayment is less than 20% of the
purchase price.
86. 86
MORTGAGE LIFE INSURANCE
Life insurance policy that pays off the
borrowers mortgage in the event of
death
Allows family to continue to live in the
property
Always optional
87. 87
HOME WARRANTY POLICY
Protects the homeowner in the event of
costly repairs
Covers items such as heating, plumbing,
air conditioning
Annual Premium (renewable)
Flat fee per service
Buyer may request seller provide
policy
88. 88
Know Your Community
Meet your neighbors
Read weekly community newspapers
Accept the Welcome Wagon
Visit city, town hall and library
Volunteer for special events
Attend neighborhood association
meetings
89. 89
Know Your Community
Police Department
Where is the nearest station
Fire Station
Which station services your area
Hospital
Where is the nearest hospital
Elected Officials
Who are your representatives
Slides 2 – 5 9:15 – 10:00 am Don’t over complicate it – Document major short term and long term goals (i.e. to pay 50% on Sears and Providian instead of “get out of debt” Monitor spending habits to determine where adjustments can be made Develop a family spending plan with flexibility – allow for adjustments for unexpected expenses A documented plan is better than mental plans, road maps are a great starting point to get where you want to go
Slides 2 – 5 9:15 – 10:00 am Misers tend to be savers Conservatives while more cautious do not lean toward savings Carefree, Big Spenders and Over Spenders are do not save and throw caution to the wind, but can change with documented planning
Slides 2 – 5 9:15 – 10:00 am Monitor your normal spending habits w/o budget Keeping every receipt will help categorize spending Review spending to see where largest expendatures and possible cuts can be made Create a ‘spending improvement plan’ to concentrate on previously identifid areas Review every 30 days at minimum – can be more frequently if necessary. This will allow for adjustments to meet documented goals
10 am – 11am Budgeting including exercises and participation Ask participants what they spend on a monthly basis for the above areas If they cannot tell you, emphasize the need for tracking This is a sample of successful money management expenditures
10 am – 11am 15 min break 11:00 – 11:15am Actual average expenditures
11:15 – 12:30 35% Credit History 30% Balance to limit ratio 15% History 10% Inquiry 10% Credit Mix 4 C’s of Credit Credit Capital Capacity Collateral Obtaining credit scores – see resource guide www.experian.com www.transunion.com www.equifax.com Tips for maintaining a good score: Pull credit on your own (1 to 2 times per year) Subscription to credit monitoring service Fraud alerts and “Do Not Extend” Statements Use reputable agencies such as CCCS for debt management and repair
12:30 – 1:45 Loss Mitigation Game, Flowchart, Explanations Statistics/handout 1:45 – 2:00 break Review foreclosure process – (see flow chart) 30 days – letter 90 days – Notice of Default (NOD) recorded – this gives borrower an additional 90 days to cure delinquency Trustees sale must be advertised in minimum of three publications (Public Notice) 21 days after expiration of NOD Trustees Sale may take place After NOD expires, property can be redeemed by paying the total amount of past due including attorneys fees, publications fees, etc Alternatives Modification includes changing terms of original mortgage Interest rate reduction Extension of term (i.e. adding 10 yrs to mortgage term) Adding past due amount to end of mortgage and re-amortizing loan Deed in Lieu – Signing property over to bank or mortgage company Repayment Plan – taking past due payments and dividing them up, then adding them to future payments Selling property prior to Trustees sale
1 hour left – 2pm – 3pm cover remaining topics!!! 3:00 pm start prep for departure/closeout after quick break – 10 minutes or less Slide 10 – 10 minutes Notice of default publications – newspapers and F/C services (this also includes contacting buyers via letter, phone or even door to door) At the auction – usually requires cash at the day of trustees sale After the auction – REO properties are forwarded to Brokers for final disposition on the open market, including MLS
Explain difference between fire and homeowners insurance (see word doc as handout and flip chart) Explain the fact of being under insured can be as detrimental as no insurance at all Replacement cost at current cost building materials and labor – these costs increase with inflation and should be updated annually Develop relationship with Police and Fire Departments (may include free evaluation by firefighters and officers at your home) FIRE Smoke alarms and ladders Fire-proof your home (brush clearance) Fire Sprinklers and extinguishers POLICE Burglar proof your home Windows, Doors and external lighting Eliminate obvious invitations Slides 2 – 5 9:15 – 10:00 am