Can’t Pay The Bond? This Is How You Can Save Your Property And Avoid Repossession

Even though the banks are harsh and procedural and have deep pockets to easily and swiftly take legal action, they are also interested in solving problems. It is costing the bank money to take legal action and repossess a property, not to mention the time, which in corporate terms equals money.

Though more properties in execution are on the banks lists and some people have not found solutions, we are hoping that this article will give some ideas on how to go about getting help from the lenders themselves.

One may find that the banks are willing to help some bond holders experiencing temporary financial problems. Above all, property investors and homeowners must remember that the banks are smart and fully aware of the fact that rising interest rates have a negative impact on repayments.

But it is not that easy to get help from the bank. May factors needs to be taken into consideration, including factors that are part of the willingness profile of the borrower. The banks job is to keep the bank in business and will not extend help to just anyone asking for help, instead they would rather evaluate each case on its’ merits.

Before we dive into some solutions that the banks may provide, lets look at some guidelines that one needs to remember if approaching the bank for help.
The borrower should contact the bank as soon as they see a problem on the horizon. The issue here is simple. Most borrowers wait far too long before acting on a problem or even informing the bank that a problem exists. This is true for all credit forms not only mortgage bonds.

There are two main reasons for this that are purely emotional:

1) Borrowers are afraid to approach the bank. The bank is big and powerful and seems non-emotional and very threatening. When faced with this fear, one always must remember that humans work in the banks, not monsters or aliens. When talking to a bank, one is actually talking to a person. Though not all people are nice, most can be understanding, as they are also human.

2) Living in denial. This reason is the worst possible as no one can help a person that does not believe a problem exists. In this case, it is very likely that the borrower may be repossessed and never know what hit them.

The borrower should show willingness to find solutions to their problem. In other words, when calling the bank, screaming and yelling doesn’t help. It is not their fault you are in this situation. If you are frustrated, you must be emotionally intelligent enough to be nice and polite and kick your punching bag afterwards to let your frustrations out.

It is very important to remember the points above before even looking at the solutions that the banks may be able to extend. If the borrower manages to upset people at the bank, they won’t even get to a person willing to help, which could make things even worse.

Now we will discuss some ways in which you may find that a bank may be willing to help a financially struggling property investor or homeowner, if the case merits such help.

When falling behind on payments, each bank has certain procedures, however most of them are similar in nature and each case will be evaluated on merit.

All the banks have something called a Collection and Recoveries Department and a Customer Debt Managing Department some also call these Voluntary Restructuring or Loan Modification or Moratorium.

Here are the procedures of what will happen if a borrower falls in arrears:

Pre Legal Section: 0 – +/- 6 payments in arrears. The borrower will get a call whereby they will try and get a promise to pay and arrangements can be made. If these arrangements are broken 3 times in a row, it will be handed to another dept, some call it ICU. Yes, like in hospital. The borrower will be called again and be given +/- 30 days to rectify his/her promises. If nothing happens, its over to the Legal department.

Legal Dept: This is where the borrower will get the option to sign a Power of Attorney to the bank to market/sell his property through listed agents or he or she can arrange to list the property independently.

Depending on each bank these departments may have the following options for arrangements to help a struggling borrowers:

Extension of loan term, 20 to 30 years. Not favourable for homeowners at all, because the savings are not really that much compared to the additional interest. The opposite may be true for a property investor that receives rental income. This option can spell “heaven” as the interest is paid by the income received and the cash flow improves. Many investors choose this option regardless of any financial difficulties, just to boost the cash flow.

The borrower must ask or apply for a Breather Period (this is often called “Holiday”) and it entails no payment for a period of 3 to 6 months. The period would depend on the borrowers profile.

The borrower also has the option of asking for a reduction in payment, usually not less than 50% but it is negotiable.

To conclude, the borrower has to call the bank, and explain the situation in detail and they will offer some options based on personal profile. But remember, the borrower has to call the bank; not any other 3rd party.

This whole process can take quite a bit of time, and by the time, all avenues have been tried and exhausted, one can be sure that once a property is being sold on auction the bank has tried everything.

As a last word for closing. Many people listen to hear say. They have either heard or been close to person that has had a run in with a bank and lost their home. As a result of this they have already judged the bank and hold a perception that the bank is the problem and the enemy. For such people, one can only ask that they put such stories and perceptions aside. Each case is judged individually upon its’ merits, it is worthwhile to giving the bank the benefit of the doubt and working with them. Your case always stands a good chance of having a completely different and perhaps better outcome than those you have heard of.

Web Business Models – Generating Profits From Your Traffic

When you own a web based business, generating traffic is all well and good. However, unless you have a revenue stream, your traffic is worthless. This article provides an overview of methods that you can use to get paid for applying your online marketing skills.

E-Commerce

E-commerce is the lifeblood of online business. Those that sell products and services online are at the top of the food-chain. Ultimately, e-commerce businesses generate the bulk of the revenue that pays affiliates and online publishers. If it wasn’t for e-commerce Google stocks would be worth a fraction of what they are today. While established offline businesses have a strong advantage over online ones, in the form of resources and economies of scale, smart web marketers can use their skills to outperform public companies on the web. When you sell a product you own the customer relationship, and benefit from repeat business, which can help to create a solid business and sustainable revenue from each visitor who lands on your site. On the other hand, you need to stock inventory if you sell tangible products or pay staff wages if you provide a service.

Web Publishing

You can make money just from getting visitors to come to your website. The biggest success stories to come from the internet in the last 10 years have all relied on web publishing and free products as their business model. There’s Google, Yahoo, Hotmail, Myspace. The list goes on and on. However, away from the watchful eye of Wall Street many people have made millions online through having a publishing business of their own. Take, for example, John Chow. He runs a popular blog which gives people advice on how they can make money online. He makes more than $10,000 a month through selling advertising inventory and through his website visitors clicking on affiliate links. And then there’s Techcrunch.com. Techcrunch is a blog which covers internet business and it’s a multi-million pound business. If you write content on a topic, or pay writers to do it, or you offer a free product which can help advertisers to get their message across then your onto a winner.

Affiliate Marketing

Affiliate marketing is a way to make money from selling products without actually owning any inventory! When someone clicks on an ad you can make money if they go onto buy someone else’s product. If you have a list of email addresses, or you buy traffic for a cost-effective amount, then you can make millions per year from recommending someone else’s products. This is one of the most quickest ways to become a millionaire. When you are in the web publishing business your margins tend to be lower so you can’t spend as much money generating traffic. That means you have to wait for organic search traffic and viral marketing techniques to pay off. With affiliate marketing, if you spend $10 and generate $20 in commissions then you have basically cracked a technique that can make you a millionaire overnight. Just re-invest the profits, or get a loan, and keep on buying advertising inventory until such times as your buying $1,000,000 in traffic to generate $2,000,000 in commission. The only limiting factor is scalability and available, cost-effective, advertising inventory.

10 Reasons Why You Should Use Teleseminars As Part of the Training Strategy For Your Business

Teleseminars are a great way to deliver ongoing training to your staff of your business and or to your associates, for instance, as in a network marketing company.

While face-to-face training is invaluable there are several advantages to delivering ongoing training via teleseminars especially in a downward economy. And, as on-going training is vital to the success of businesses, particularly in today’s rapidly changing and challenging environment teleseminars should be part of your training strategy.

Here are 10 reasons why you should include teleseminars as part of the ongoing training strategy for your business,

1. Teleseminars are a cost-effective way to deliver training.

2. Teleseminars can dramatically reduce the time spent training yet still boost the effectiveness of the training.

3. They can be recorded so that staff can have access to the information after the live presentation.

4. Frequently Asked Questions (FAQs) can be incorporated into the training material so that listeners can have permanent access to an accurate record of the answers to the FAQs. This saves repeatedly having to go over the same issues thus saving time and money.

5. Travel costs for trainers and those participating in the training are eliminated – ideal for companies with offices in different locations, even different countries.

6. Teleseminars can be quickly prepared and made available so that important updates can be speedily communicated.

7. Employees can have access to the live event or a recording of it regardless of their geographical location.

8. Teleseminars can help to improve the induction process of new employees, helping them to get up-to-speed in as short a time as possible.

9. Teleseminars can help boost cohesion among different teams and teams working in different locations.

10. Several hundreds or even thousands of individuals can be included without the need of hiring an expensive venue.

Employees can also be encouraged to devise their own teleseminars for their teams. It is said you know when you have successfully learnt something when you are able to teach it. Naturally, they will need instruction on the best practice when devising and delivering teleseminars but this is an investment that will pay for itself many times over.

Many employees may even be happy to undertake such training on their own time because of its applications outside of the work environment and additional benefits such as increasing self-esteem and self-confidence.

However, teleseminars are not just a way to deliver on-going training. They are also used by companies who core role is to deliver training. Take for instance, Coach U. Classes are delivered in via teleseminars with study guides and other support material being available in PDF format as well as hard copies.

As a result of this training system Coach U is enable to enrol students from all over world creating a vibrant international community. This enhances the learning experience for Coach U’s students increasing still further the impact of using teleseminars as a key strategy for ongoing training.