Moreira Team -An Overview

In these stressful economic times, many lenders and their investors are looking at acquiring existing loans, or are considering selling loans they currently own.

There are many reasons loans are bought and sold. Often times the reason has more to do with the individual situation of the seller than of the note itself, or the condition of the borrower. The most common reasons loans are sold are for liquidity, dissolution of a partnership, change of financial circumstance, deterioration of the underlying collateral, or the default of a borrower.

There are many opportunities for buyers and brokers to acquire loans at a discount to the principal balance which may result in substantially better yields than originating a new loan. Buyers and their brokers should consider several factors when purchasing a note, including the strength and payment history of the borrower, the quality of the underlying collateral securing the loan, and the strength of the guarantors, if any.

Loans can be purchased individually or in pools. Although the legal agreement differs for each, the basic process flow is the same whether you are buying or selling one or more loans. For simplicity purposes, I’ll refer to the transaction as a loan asset transaction. The term “loan sale” and “note sale” will also be used interchangeably throughout. Visit us  Moreira Team

The basics of the purchase and sale process are relatively straight forward, but like any transaction, the devil is in the details. Following are eight steps involved in the purchase and sale of loan assets followed by a discussion of the most common pitfalls to avoid throughout the transaction.

Step 1: Confidentiality and Non-Disclosure Agreement

It is customary to execute a confidentiality and non-disclosure agreement to protect both parties. Sensitive borrower information is typically exchanged and both parties need to agree to safeguard this information.

Step 2: Make an Offer

Make an offer for the loan asset in writing. Work with an attorney who has handled loan purchase and sale agreements in the past and can walk you through the various nuances to the agreement. An entire article can be written on the ins and outs of this agreement, and is a topic for another time.

Step 3: Good Faith Deposit and Open Title

Typically a seller will provide a good faith deposit to get the process started, but this is a point to be negotiated between the parties. It is a lot of work to gather the loan files together and you want to make sure you have a serious buyer before you go through the effort. You should also prequalify the buyer and verify that the funds are in place and that this buyer isn’t going to try and “raise the funds” once they review your files.

After a deposit is received, the seller should open a title policy. Most of the time the seller can buy an ALTA assignment endorsement (10.6-06) which insures the assignment vesting and lien position to the new party. The endorsement is less expensive than a full title policy and is recommended if it is available.

Step 4: Due Diligence

Once a deposit is received, conduct thorough due diligence on the loan asset. Your level of due diligence will vary depending on the asset itself, and on the number of assets you purchase. Most purchasers will conduct an independent appraisal, re-underwrite the loan, examine the chain of title, review the original promissory note, review all correspondence with the borrower, the trustee, and any other parties to the loan.

There are a number of third party companies that specialize in performing independent due diligence on loan assets and generally charge $250 per loan depending on the type of appraisal and underwriting conducted.

Most of the time you will not be able to inspect the interior of the property, or conduct an interview with the borrower, but that can be a point of discussion between you and the loan seller at the time the offer is negotiated.

Step 5: Sign Documents

Besides the purchase and sale agreement, two additional documents must be signed in order to transfer ownership of a loan. The first is an assignment, which is a notarized document referencing the original mortgage or deed of trust and is recorded in the same county in which the real property securing the note is located.

The second document is a signed endorsement of the original promissory note. This endorsement can be handled by either typing language on the back of the note (e.g. Pay to the order of….) much in the way a check is endorsed when signed over to a third party. If there is not room on the back of the note, another way to endorse the note is by attaching an Allonge which effectively has the same language that would otherwise be placed on the back of the Note. The Allonge must be securely attached and at all times kept with the original promissory note.


Bridgepoint Funding -An Overview

Purchasing a home can be a confusing time for first time home buyers. In the game of the purchasing and selling of Real Estate there are 5 main players. The buyer, seller, their respective real estate agents, lender, and most importantly, the mortgage broker. A mortgage broker is more than just the individual who sets up your new loan. They are also the only player in the game that truly has the buyer’s best interest in mind. Bridgepoint Funding

Mortgage Broker: The Translator

Not everybody has a background in real estate and mortgage brokers understand that. While initially setting up your loan, your prospective lender will require certain documents from you and/or about the property you are purchasing. Some of these documents may include, a marketable title, a preliminary HUD-1 statement, and a 1003. As a first time home buyer, you will need a mortgage broker to convey these in layman’s terms to you. Thankfully, mortgage brokers are well versed in the vocabulary used by real estate agents, lenders, and even title companies.

Mortgage Broker: The Negotiator

For those of us with less than perfect credit, obtaining a mortgage straight from your local bank can be frustratingly futile. Banks look solely at the bottom line (i.e. your credit score) to determine whether you are eligible for a mortgage loan or not. A mortgage broker has access to several lenders at any given time which allows them to navigate what each lender can offer you. Not the other way around. Additionally, mortgage brokers will negotiate interest rates and loan terms on your behalf to the lender; considering your best interests all throughout the process. The types of loans that are available (fixed, adjustable, hybrid) contain fine print conditions that could greatly effect your monthly payments. A mortgage broker can work with you to match your budget to the right type of loan.

Mortgage Broker: The Ally

Mortgage Brokers acts as a go-between for all of the parties involved in the purchase process. There are hundreds, if not thousands, of mini conversations occurring on a daily basis between all of the parties that you, as the buyer, are not aware are even taking place. Some of these conversations are about how the lender may need more information to go forward or how the title provided to them by the seller has certain liens that concern them. The broker will resolve these issues on your behalf so as to not worry you with every little detail. This is a huge asset to having a mortgage broker. There are numerous tasks for a first time home buyer to complete without having to deal with every item that may come up in the purchasing process. Most importantly, mortgage brokers do not keep typical “bankers hours” and have multiple means of contacting them, such as office number, mobile number, and email address. Because although you may not want to be involved in every minor occurrence in the process, you would still want to know that your issues can be resolved when and if they arise.


First Savings Mortgage Company of Louisville KY – At A Glance

Getting a home loan is definitely one of the major decisions most individuals have to make. Having a house to call your own is a part of every American’s dream. Considering how important this is, it should be done with the right mortgage company. First Savings Mortgage Company of Louisville KY

There is no denying the fact that Coast areas are one of the best places to live. With the nice weather and all the good things they have to offer, it is just expected that most residences available in the area are going to be quite costly. It is still possible to find one that suits one’s budget and other necessary considerations with the assistance from the right kind of people.

There are a huge number of mortgage providers who are ready to help out everyone. Different lending companies in the area offer various solutions when it comes to a home loan. The many options available might prove to be a problem in the long run since it can be confusing to find the one to do business with.

Here are some helpful tips to guide an individual’s journey toward the perfect mortgage company.

  1. Stick with those that you know – Knowing who you are working with brings about a lot of benefits. There is the trust factor. Having ample confidence in the lending company is important to ensure complete understanding all throughout the process of acquiring a home.
  2. Ask for advice – Professional advice is most helpful since it gives one a realistic and reliable view at mortgage companies. Suggestions from friends, family members and relatives about the company to work with when it comes to mortgages are also useful to have around.
  3. Know what you want – This is one of the basics in getting anything. Determining what one intends to have is essential since it directs the path one should take in order to acquire such a thing. In mortgages, these are the details such as the interest rate, length of mortgage and most especially, the amount one wishes to borrow.
  4. Check out your options – Looking for a mortgage company is very much like shopping for new clothes or shoes. It is highly recommended to check out the different providers and learn more about what they have to offer before making any decisions.
  5. Take your time – This is true even when it comes to choosing the mortgage company to conduct business with. Although a house is one of the most basic human needs and is something one cannot do without, any financial decisions should be thoroughly studied, and this includes getting a home loan.

In the search for that one mortgage company to work with, one should have a good blend of patience, effort and motivation. It is not an easy feat considering the large population of providers that are ready to show off their good side and put their best foot forward. Being able to pick the one that can provide the best service and offers is definitely a success to relish forever.


Reason To Choose A Bail Bonds Agent Near Me

We’ve all seen the popular TV program that glamorizes the lives of professional bail bondsmen, which makes it seem like they are all heroes and always have great hair, and the bad guys are really, really bad. In truth, the average person may find they need an agent to post bond and help get them out of a bind, and if you happen to find yourself in this position, it is important to know that not all agents are stellar movie star material. There are good and bad bond agents out there, and it pays to do a little research before jumping in to the first one you happen to find on the Internet or the yellow pages.

When searching out a bondsman for yourself or a loved one who is in a bind, doing a little research can go a long way to help you find someone trustworthy and knowledgeable. You may be scared or confused if you find yourself or a family member arrested and taken to jail, and have to deal with a number of things. The first will be what the bail amount will be. This will be decided by a judge, usually by following a bail schedule if that is what your state employs, as well as other determinants like the type and severity of the crime committed, the flight risk, and other variables that will establish a lower or higher bail amount.Bail Bonds Agent near me

Once the monetary amount of the bail is determined, it is now up to you to find a qualified bail bondsman if you can’t afford the entire bail on your own. Most people cannot, and the main reason to employ a bond agent. The skill and qualifications of the agent will be the key factor in the release from incarceration and the follow up until a trial date, and why it is important to find a good, reliable agent.

It is your responsibility to pay a fee to the bond agent of 10-15 per cent, along with providing financial backing to the rest of the fee, such as a deed or other financial collateral. Once that is paid (this is the “bond”), release is scheduled from jail. You will be required to appear at court on the days determined by the judge, and your bail bondsman has the responsibility to ensure that you do. Failing to turn up for a court date means you have broken the law again and are now deemed a fugitive of the law. You can be arrested and sent back to jail for missing court dates; should this happen, you will be declined another chance at bail and confined to jail for your original crime plus the additional felony of “skipping bail”. The bond agent can arrest you and bring you to court, where you will relinquish your bond and likely end up incarcerated again.


Tips on Choosing a Family Dentist

The first thing you should find out about any dental practice is how long they have been operating. If they are well known this may be a good thing, but if they are brand new, this may raise even more questions. The next thing you should do is find out how much training and actual experience the dentist has, especially if you may require special procedures someday. It is important to ask as many questions as you can and get all the information possible.Here are the findings Roach Family Dentistry & Associates

It is also important to know if the dentist has a referral process and how it works. This is helpful to know if you need to go to someone else for a special procedure. It may also be beneficial to find out what associations or societies the dentist participates in or supports. This may let you know how dedicated they are to providing the best dental care possible. It also may be a good idea to ask if they have any experience cleaning children’s teeth. In an emergency, it may also be a good idea to know what care they provide if any and the hours of operation. Finally, it is very important to ask about how much each treatment will cost and what insurance policies they accept.

There are many steps that go into choosing the right family dentist. It is important to make sure that you and your family will be happy, and feel safe and comfortable with the family dentist you choose. This way when you get ready to go to the dentist may be there will not be so much fear and anxiety and you will know your family is in good hands and you can rest at ease.


Methods Often Used By Physical Therapy Experts

Physical therapy is the medical practice of treating diseases, injury or physical deformity through medical methods that do not necessarily require drugs or surgery. Some of these methods are easy to go through while some would seem unusual to most people. Some of the commonly used methods are as stated below. Therapy

-Manual Therapy: The most common method used by health specialists in this field is manual therapy. This involves using such methods as massage and stretching to stimulate the body to enable it to move with ease. Manual therapy should be used immediately after assessing a problem and should be done majorly when the body muscles are involved.

-Use of Ice: Ice is used majorly as a substitute for manual therapy or in conjunction with it. It is used in physical therapy when swelling occurs since it relaxes blood vessels and thus prevents further swelling. It also helps in cooling a patient allowing for introduction of other methods which would be more effective.

-Heat Treatment: Heat is used mainly for injuries to the muscles causing tightness. Going with the law that when things are heated they stretch medical expert uses this method to make the tissues flexible hence be able to stretch the muscle.-Physical Exercise: Anything done apart from daily practices can be considered as exercise. These include jogging, stretching to reduce stress on muscles and weight lifting. Exercises help improve flexibility, strength, speed, and body coordination. After any injury and treatment, one should do regular exercises to improve muscle efficiency. It is always healthy to maintain a regular exercise program as most therapists would advise.

-Laser Therapy: This method involves using light or laser technology to reduce swelling and pain. This in turn allows a therapist to be able to work on the affected area without necessarily bringing pain to the patient. It is majorly used in physical therapy for muscular or tissue injuries deep within the skin.

-Electrical Stimulation: The use of electric shock on the human body is known to have bad effects but in this case it has beneficial effects. When the human body is subjected to a mild electric current the sensations within the point of contact are lost and it is possible to move the said part. In physical therapy a patient who has gone through a very damaging experience is given a painless mild electric shock causing a muscular contraction. This in turn leads to restored movement or full movement to the muscles. However it is not always a successful procedure.

-Traction: This is a method of physical therapy that involves separating the spinal cord to allow nerves room and give the discs more moving space. This is a good method because it is not time consuming and in the long run as one grows older the spine does not lose support as fast as it should have. It is mainly used for those who experience back pains or pain when they turn in their abdominal region.

-Use of Ultrasound: Almost like laser therapy, it involves using sound waves to penetrate deep into the body tissues causing a heating effect inside the tissues thus softening them up. This enables a therapist to use manual therapy or encourage the patient to do some aerobics.


Great Concept of Miniature Golf

We must know the idea behind the concept of Miniature Golf. Miniature Golf, also known as putt-putt or Mini Golf is just the spin-off of the Golf sports which emphasizes exclusively on the putting trait of its parent game.

Characteristics of the Miniature Golf

It is played on a yard which is short in length, typically within ten yards from tee to cup comprising a sequence of holes like its parent game. Here, artificial putting exteriors such as mats, slopes, and moving hurdles like windmills are used. With these mentioned characteristics, Mini golf is entirely a mini edition of its parent game. In the United States of America, the mini golf course builder properly plans and creates customised golf courses. The constructors have attained an experience of about thirty years in this miniature golf course designing.Visit Miniature Golf Chicago

The course that is constructed is unique in its own way and also of reasonable budget. The Premium Amusement Developers is one such company in the USA which designs a cool and thrilling course with more artificial shots and theming components. The putt design varies from place to place like the USA has some eternal themes like the jungle, tropical, island, western and mining themes. These themes are very exciting and have been used frequently.

The mini golf construction costs include a well-planned survey of your property. The constructors will take input and funds into consideration before creating your course. This will give a clear idea of what your course will look like and what characteristics will be included in your course. The cost levels usually include labour supplies, design costs, pencils, hole number signs, and pumps. However, every course is created in a unique and incredible way. The course is specially made so that it suits your individual budget and location. Also, some parts of the USA have higher building budgets that are not revealed. Moreover, the indoor courses have a similar rating, as well. These expenses change from time to time.


Mortgage Opportunities For Homeowners

With interest rates as low as they presently are, refinance mortgage loans deserve some serious consideration. Depending on individual situations and current home equity status, there are number types of loans to think about. By looking at a cross section of loan types and matching that up with personal needs and goals, one can get a better idea as to which type of loan makes sense.Mortgage Opportunities

Prior to committing to refinancing the home, one might compare refinancing to getting an equity line of credit. Each type of loan has its merits. The line of credit is one way of pulling getting access to some money, but a refinanced loan is often away to lower overall monthly payments. The final choice would largely depend on one’s specific goals.

But assuming that refinancing is the top choice, one should probably become familiar with the rates for a standard 30 year, fixed rate loan. If the difference in interest rates between one’s current loan and a potential new loan is 1 percent or more, the refinancing might make a great deal of economic sense. Depending on the size of the loan, monthly payments could be reduced significantly.

For people who do not see themselves staying in the current home for more than a handful of years, another type of loan may be the answer. The kind of loan for this scenario might be a 5/1 or 7/1 ARM, or adjustable rate mortgage. These loans essentially offer the borrower a fixed rate for the a few years, after which the interest rate is subject to change. Starting rates for these loan vehicles tend to be significantly lower than the 30 year fixed rate counterparts.

For an even more aggressive approach, one might consider refinancing into an adjustable rate loan from the start. This can reduce the initial monthly payments by a significant amount, but is subject to change if market interest rates start to move upward. This is usually only recommended as a very temporary loan solution.

If, as mentioned previously, a little extra money is what someone needs, that can be accomplished through refinancing or through securing and equity line of credit. If the home has enough equity, the borrower may be able to take out a larger newer loan that can provide some leftover cash. This cash can then be used to do home repairs or pay off other bills, for example.