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William King asked:




Along with the growth in the Real Estate market, Dubai has experienced simultaneous growth in its home finance sector in the past three years. According to a recent study by EFG-Hermes the current outstanding loans stands at Dh 11.5 billion. It is estimated by the Egyptian investment bank that the UAE housing finance sector will grow by Dh 14bn in 2007, Dh 18bn in the year 2008, the growth is estimated to be Dh18bn in 2009 as well and Dh 14bn and Dh 17bn in the years 2010 and 2011 respectively. These figures have been derived based on an expected population compound annual growth rate of about three percent.

The most dominant forces in the Emirates’ home finance market are Amlak and Tamweel. They account for over 35 and 25 percentage of the industry respectively.

The Real Estate boom of the emirate has left the world spell bound, EFG-Hermes predicts that the total growth in the Real Estate should exceed the figure of Dh419bn in the years between 2008 and 2011. It has also been said that Dh 64bn will be funded through credit. The national bank of Dubai has tied up with Dubai properties for the sole purpose of finance apartments which are bought in tower ‘H’. Tower ‘H’ is a primary tower for residential purposes at Business Bay in the project of the executive Towers. This tie up of the national bank of Dubai and Dubai properties, is more than welcome, as this tie up will ensure easy financing terms for the people who are aspiring to buy apartments in tower ‘H’. These easy schemes will mean that people will be able t finance their dream homes with no obligations of interest repayment. In this case the loan is made available for 85 percent of the property price of a sum of 4 million AED, whichever is lower. This loan is provided for a period of 20 years.

Dubai’s Islamic bank (DIB) and Al Islami home finance are also witnessing high demands from the retail customers.

They have recently launched solutions that aim to meet the requirements of retail customers. These customers include both the UAE nationals and expatriates who are keen on buying property in the UAE freehold property market.

In response to this high demand of the people, DIB has announced the launch of Mobile Mortgage Advisors. They are a team of mortgage sales expert who will be providing valuable consultancy at the customers door step.

Al Islami finance has launched finance solution products such as the “forward Ijarah” and “Ijarah”. Through the “Advanced Eligibility Process” customers get a right to choose their finance limit without first having to choose the property.

The Dubai Islamic bank caters to the needs of a diverse customer profile. Also the al Islami home finance provides up to 90 percent finance and a maximum tenure of loan repayment of 25 years depending on the eligibility of their customers.

Dina Wilson asked:




In most cases, you tend to go for loans to overcome the shortage of finance. In a similar manner, while procuring a new home, you must have ample finances available as it involves quite a bigger amount. Since it is not possible to arrange the money on your own, lenders have devised a solution that comes in the form of home loans. These loans are designed for the sole purpose of providing you the monetary assistance that is required to purchase your home.

These loans are very easy to avail and can be sourced from all the lenders present in the physical as well as online market. You can assume the loans to be secured in nature as it is secured against the very home you are going to purchase. When you place the home as collateral, a mortgage is offered against it which is equivalent to the market value of your home

The loans are further made available in two types i.e. fixed rate and variable rate. In the case of fixed rate loans, the interest rate levied is prefixed for the entire duration. This means you have to pay a uniform amount through out the term and does not really matter if the interest rates are fluctuating. On the other hand, variable rates of the loans depend on the market and government regulations. If the rates are high, you have to pay a high rate of interest. If the interest rates are low, you get an opportunity top save a lot.

Due to increasing competition in the financial market, more and more lenders are now offering these loans at very low interest rates. In order to tap the growth of the market, lenders now are offering the loans with more beneficial schemes such as its online availability. By making it available online, these loans are now more efficient and hardly take times to get the approval. Further by comparing the rate quotes of various lenders, it becomes easy for you to derive the loans in an instant.

Home loans present you with an opportunity to purchase your dream home, at a crucial time when you are not having the required finances. The flexible terms and conditions are an added advantage as it assists you to offload the burden of repayment.

Chris Mark Fletcher asked:




Home health care equipment can include comfortable beds, wheel chairs, and oxygen tanks and so on. Aged and diseased people would require some medical care at home and so the home health care equipment assists in such process. Since the cost of them is extremely high, home health care equipment financing is often desirable.

The medical beds are important for a patient who needs extra care at home. These beds offer great flexibility and comfort to the patients. They are safe for the patients who find it difficult to get up from the bed. Since most of the patients require the bed urgently, the providers need to keep in stock of medical beds sufficiently. This can be expensive and so the providers look for home health care equipment financing.

Oxygen machine is very important for patients who are not able to breathe normally. The machine transfers oxygen from the tanks to the lungs directly. The machine is often used with face mask to cover the entire face, or nose and mouth areas alone. This machine comes in different models to suit different environments. The machine needs to be strong as well as simple so that any non medical person can handle it easily. The home health care equipment providers need to keep in stock of adequate number of oxygen machines which may require home health care equipment financing.

Wheel chair is useful for patients who are not able to walk. The patient can move with the help of the wheel chair. There are various models of wheel chairs available like manually powered, motorized operated by hand or joystick. There are some models which can even travel over rough surfaces. The wheel chair offers invaluable service for physically challenged people.

Though home health care equipment is expensive, it is wise to invest on them. This is because; the need for such equipment is increasing nowadays among aged and sick people. But the providers find it a burden to keep stock of such equipment sufficiently. Therefore the genuine financing companies that have vast experience in equipment financing provide financial assistance to acquire them.

The reliable financing companies do not require any cumbersome application procedures. They can understand the urgent need of money to acquire home health care equipment and so they provide fast approval of the amount. They offer financing home health care equipment in better terms. Hence the business people can easily settle the amount they borrowed in easy monthly installments.

The experience of equipment financing companies would help the home health care equipment providers well. Since the companies handle home health care equipment financing, the business people can focus their efforts on other important issues. In fact they are relieved from the pressure of financing. They not even required stepping out of home to seek the financial assistance. A simple online application form is enough to get fast approval. The financing companies process the application immediately and the business people can get the help even on the same day itself.

Jeff Lakie asked:




If you are behind on mortgage payments, a foreclosure is not inevitable despite your current financial situation. Some people may scare you into taking action you do not need to take, so learn all of the facts behind a home foreclosure before proceeding. What you know can help you, while ignorance of the various options available can definitely harm you.

You may be in financial trouble and behind on mortgage payments. If so, time is working against you therefore immediate action on your part is necessary in order to avoid foreclosure.

One thing to keep in mind throughout your current troubles is that communication is essential. Chiefly, communicating with your mortgage company about your current state of affairs can only help you. Ignoring warnings or spurring phone calls will give the appearance that you are avoiding your obligation. Therefore, as soon as trouble crops up notifying your lender of your financial condition is an important first step to take.

Once your lender knows about your financial condition, then a whole world of options could be opened up to help you avoid foreclosure. These can include:

Deferring payments for several months until your financial condition improves. Especially if you have equity in the home, a lender could be receptive to this option. Essentially, the missed payments would be added to the end of your loan, extending out your term accordingly.

Rewriting your loan favorably. Perhaps your original loan agreement required you to make higher payments after three or four years time. Despite financial difficulties you may be eligible for a new fixed rate mortgage at a lower rate.

Again, communicating with the lender can only serve to help you. They stand to lose thousands of dollars if you default, therefore anything they can do to possibly help you will ultimately help them.

What if your financial situation is so dire, that no loan extension or loan rewrite can possibly help out? Well, it could buy you a bit more time to try to sell your home before your mortgage company proceeds with a foreclosure. Because you communicated with the mortgage company about your financial plight, they will be on your side as you seek a buyer. Instead of pushing through with a foreclosure your mortgage broker may be receptive to your attempt to sell the home.

If a buyer steps forth with a good offer, you could be freed from your obligation and the mortgage company will satisfied with a transaction that looked upon favorably.

REMarketingThisWeek asked:

First Time Home Buyer Tax Credit Assistance and Federal Government Home Loan Program with Low Down Payment on FHA Mortgages. Buy Bank Foreclosed Homes at a Discount. Go To realestatemarketingthisweek.com Part 2 (Excerpt) The median income family can afford twice the median priced home; prices drop over 50% And now I mentioned Dan Havey is back in the studio with us, Dan has done a lot of great things in the mortgage industry. He left us about a year and a half ago, is that right Dan? Yes, I left the mortgage industry in October of 2007. Tell us a little bit more about yourself. As you know I came originally from Wisconsin, where I got a degree in Business Finance and I came out here in 1989 and started working with my brother selling real estate owned-REO, bank owned properties for Fannie Mae, Countrywide, and the Resolution Trust Corporation-RTC which was the government entity that was put in charge of disposing of all the real estate owned by the 1800 s&ls that had failed. I did that until about 1995 when I moved into the mortgage industry and there for 12 years I worked predominately with bankruptcy attorneys helping their clients get out of bankruptcy and foreclosure. I left the mortgage industry in October of 2007. Now I am working predominately in the arena of marketing for real estate and mortgage companies, helping out companies, just like Im here helping out Michael today, to get people to realize that right now actually is a really good time to buy. There are a couple of points I want to make and it was something that Michael had said earlier. The first one was that 4% interest rate. Originally Obama said a couple of weeks ago, when he rolled out the mortgage plan, that they were going to take the $200 billion and use it to buy mortgage backed securities, well the article I was reading today said it appears that plan may have changed. Instead of buying the mortgage backs they were actually buying the stock of Fannie and Freddie to help support the company and keep these companies going under. I dont quite understand why being how they own them now. Well youve got to hand it to the government they have really done a heck of a job helping Fannie Mae out, for instance today the stock is up to $0.41. Wow, doing so well, I remember when it was $150 or so, where it was at the top of the market. Today, right now is definitely the best time even if rates dont get down to the 4% point. The beauty of it and were going to talk more about this in a later segment, is that we have seen a 51% decline in home values from the peak of the market. So you dont have to have the absolute greatest interest rate in order to be able to buy a house today. The median home price right now is $130000 in Maricopa County, it was $264000 just two years ago. So the median home price is $130000? We are going to talk a little bit about what a person has to make to actually qualify for that. Well it is definitely well within the means of a median income family. Right now a median income family makes about $64000 in the state of Arizona according to the US Census Bureau and HUD. I ran some numbers today, I think at 6% interest and at that rate they can buy a $280000 house. So you can buy twice the median home price if you are making just what the median income family would be in the state of Arizona. So the median household income buys double the median priced house in Maricopa County. That is correct, at 6% interest. And the reality of it is interest rates are not even that high right now. So for people to be waiting for that perfect interest rate of 4% it doesnt really matter if it gets here or not because right now is such an incredibly fabulous time to be buying a house. There are so many foreclosures out there on the market right now, there are so many short sales out there on the market right now, and the point you made earlier is very important, that people have to get in and get prequalified, know exactly what they can buy. Now in many cases you are going to need a down payment, so get with your mortgage broker, get with Velocity Financial and start working on that program of getting those funds together for the down payment as well. Dan Havey we talked in the past about whats available for financing these days, interesting to give little pat on the back for Velocity Financial is one of less than 15% of all of the lenders in the state of Arizona that are qualified to do FHA financed homes. Now FHA financing, people used to think it was only for first time home buyers, thats no longer the case. The FHA loan which only requires 3.5% down payment it doesnt matter if you have owned a home before and in many cases you can own another home now so long as your new purchase is going to be your primary residence you can utilize FHA financing and put only 3.5% down.