Private mortgage insurance is required when you purchase a home with a down payment of less than 20% of the sale price or the appraised home value, whichever is less. Your lender in this case will expect you to purchase a private mortgage insurance policy so that even if you default, he can compensate for the loss. So when you make low down payment on your home purchase, you pay for the insurance premiums on a monthly basis till you can build up sufficient equity in your home.
You can avoid PMI premiums if you are approved for a piggyback mortgage loan. These loans involve 2 mortgages combined in the ratio of 80/20, 80/15/5 or 80/10/10. This implies that you take a first mortgage against 80% of your home value and second mortgage against the remaining 20% the property value.
Otherwise, you can opt for a first mortgage against 80% of the property value with a second mortgage worth 15% and make a down payment of 5% on the sale price. The third option is that you make a 10% down payment on the sale price and then go for a first mortgage of 80% along with a second mortgage loan against 10% property value.
The Federal Trade Commission has stepped up its investigations and prosecutions of mortgage relief scam artists. Since the start of 2013, the FTC has obtained settlements from over 20 individuals and companies involved with scamming distressed homeowners. In the most recent cases, two individuals and seven companies settled FTC charges that they victimized more than a thousand people through “mass joinder lawsuits” and “forensic loan audits.” They violated the Mortgage Assistance Relief Services (MARS) Rule, which was set up to curb deceptive and unfair practices related to such services.
The FTC contends that Sameer Lakhany, Brian Pacios, Precision Law Center, Inc., Precision Law Center LLC, National Legal Network, Inc., and Assurity Law Group, Inc. targeted consumers with a mass joinder scam. They promised homeowners that they could stop their foreclosures or obtain some other mortgage relief if they joined together to sue the lenders. The defendants represented themselves as a law firm called Precision Law Center, charging between $6,000 and $10,000 in up-front fees. But every suit was dismissed soon after it was filed; the victims saw none of the promised relief.
One of the scam artists, Lakhany, was also involved in a “forensic loan audit” scam, along with The Credit Shop, LLC, Titanium Realty, Inc., and Fidelity Legal Services LLC. These defendants called themselves nonprofit organizations, with domain names like “FreeFedLoanMod.org,” “HouseholdRelief.org,” and “MyHomeSupport.org;” but really they sold people an auditing service, which supposedly found lender violations in mortgage documents. The defendants charged $800 to nearly $1,600 for this service, which never led to a single favorable loan modification for the victims.
In a country like India, where every second person aspires to be either an engineer or a doctor, it is no surprise that Medical Transcription is fast becoming one of the most sought after jobs in the BPO sector. A multibillion-dollar industry in America, Medical Transcription companies are now looking to India to outsource their services. Medical Transcription India is growing at an exponential rate.
What exactly is Medical Transcription? It is the process of converting a consultation with a doctor into a text format. When we visit a doctor we usually spend the first few minutes discussing our symptoms and problems. This is followed by questions about our medical history, an examination, and a prescription for tests or a secondary consultation if required. After the doctor has collected all the information he needs, he prescribes medication along with instructions for its use. After this, the doctor records the entire visit on voice recording machine, which is then converted into a word document by a medical transcriptionist and stored.
Major hospitals are now adopting this process in order to keep up with the changing times and provide their patients with the best health care available. However, the exercise of converting a voice file into text format is tedious and requires high level of expertise. A medical transcriptionist requires having in depth knowledge of advanced medical terms and language and having a minimum amount of experience in transcribing the likes of discharge summaries, health exams, etc. They must possess higher than average typing skills and should be affluent in the language in which the transcripts are being recorded.
There are many popular types of Philippines properties for sale in the market today, and some of the most popular, according to many experts, are residential real estates. One of the most popular types of housing today, according to these experts, are condominiums.
The Rise of the Condominium Industry of the Philippines Compared to other types of housing other than the typical house, such as apartments and townhouses, condominiums were only recently introduced in the Philippine market. However, it quickly gained a lot of popularity because of a number of benefits in which many Filipinos have take advantage of, such as its location.
Advantage in Location According to many real estate experts, the first reason why these types of residential Philippines properties became popular is because of their locations, which are normally found in business and commercial districts.
What is the best type of modern housing in the Philippines? In today’s rapidly changing needs of many Filipinos, modern types of housings such as condominiums and apartment buildings proved to be very beneficial for their needs. So what are the benefits that these types of Philippine real estate can offer to their residents in today’s modern lifestyles?
Advantages of Modern Housings: Condominiums and Apartments Apartment buildings were known as one of the most popular types of housings in the Philippines due to its location. Unlike other types of apartments, most apartment buildings are found in business and commercial districts, either near or within these locations. And it was because of this that many Filipinos found a way to easily access their workplaces from their homes.
However, other than apartment buildings, condominiums are also found in these locations, which can also offer the same accessibility that apartment buildings became popular with. But what made condominiums more popular compared to apartment buildings is its amenities.