Commercial Loan Workout Learn about Personal Finance to buy Peace ...

???

By : Boris Cleveland ??
Submitted 2011-07-16 11:10:57 Urban life is stereo typed and follows pretty much the same pattern. Everybody is aggressive and wants to acquire academic qualifications and aim for a higher career growth. As soon as they take up jobs, they are very clear about where they are headed as well as their long term and short term goals. They are very clear on their goals and what they want out of life and try to focus on achieving them. To be better equipped they educate themselves on financial matters. The smart people they are, know very well that with mere salaries they cannot create the wealth they dream of. They know that the road to creating wealth is through smart investing, calculated risk taking and riding on good opportunities. Therefore you will see them quickly updating themselves regarding stock markets and mutual fund investments etc. Almost ninety nine percent of the people save their first two years of salary and take a home loan at the first instance with twenty years of long tenure. The first category of people ensures they maintain good records and pay up monthly installments all through the tenure without fail. These people are no doubt disciplined, they are conservative in outlook and averse to risk taking. They tend to avoid taking loans and wish to lead a life without debt. But the second category of people are far more enterprising and never leave an opportunity when it presents itself to invest and take chances. With marriage their income doubles up. With increase in income they change their planning horizon too. They may not plan to keep the home loan for a long time and evaluate options of foreclosure. Sometimes they go in for loan modification of their existing loans and increase the monthly installments and reduce the tenure. They can thereby save on interest and pay up the loan faster. Their planning horizon consists of going in for a second home on completion of their first home loan. With real estate the value keeps increasing over the years and this fact is well understood by these couples.Then there are others who instead of closing the first home loan, continue to pay the monthly EMI and take on a addition loan covering their extra savings and thereby invest on a second property. They get to save on their home loan interest via income tax deduction too. Whenever there is an extra income coming in by way of incentives, bonus etc, they pay up part of the principle and go for loan modification. Since their payment record and history is impeccable and worthy clients, the banks would be willing to accommodate and arrange to renegotiate loan modification or restructuring as required. Banks would be eager to extend the second loan to such couples without having to loose on valuable customers. In such cases banks do waive service fee, reduce interest rates in certain cases and come forward to provide top up loans on the exiting loan. Such couples who maintain their financial discipline manage to acquire wealth and lead a contended life. Author Resource:- To uncover additional advice or to schedule a free consultation just click here:
Commercial Loan Workout
Article From Article Mayhem

Ezine ready view

Related Articles

Source: http://www.articlemayhem.com/Art/324956/226/Commercial-Loan-Workout-Learn-about-Personal-Finance-to-buy-Peace-in-Your-Life.html

ballet tickets columbo hertz nba draft suits metta