Category Archives: Finance

ACA Helps Many People Gain Access to Quality Healthcare

old lady with quality healthcareThe Affordable Care Act was passed to bring cheaper healthcare and insurance to poor families. As this has opened doors to care for marginalized people, clinics have become full to overflowing. While this is affecting the workload of many doctors, hospitals are taking the necessary actions to keep their staff from being overworked.

The Affordable Care Act assistance or ACA was intended to provide access to medical care for the unemployed and low wage earners who would have otherwise been prevented from seeking care through high insurance premiums. The act has worked as intended for most people, leading to a surge of patients coming through hospital doors. Many patients have been given the treatment they need to feel better.

The only problem is that hospitals are getting crowded and there are risks of a shortage of physicians, not to mention the amount of paperwork they need to deal with. But healthcare facilities are doing what it takes to avoid being understaffed, so they can keep providing quality service to patients.

Customized Solutions for Hospitals

Revenue cycle management services can reduce paperwork and give the doctors more time to spend with their patients. The computerized system follows patients through, from their initial inquiry to the completed payment of their bill.

Services to assist doctors and patients include help to access the insurance marketplace, help with ACA application, charity applications, emergency Medicaid, and computerized self-pay options to allow patients to pay deductibles online or in an instalment basis. This reduces the time spent chasing up payments, increases the likelihood of reimbursement, and lets the doctors concentrate on their patients.

Excessive paperwork and insurance problems can affect the patients’ safety, particularly with the increasing number of patients visiting their doctors. Revenue cycle management and charity applications can ease this burden.

Avoid These Mistakes When Buying Your Dream Home Through Mortgage

Couple discussing with real estate agentWhile owning a house ranks high on the to-do list of many people, realizing this dream can prove to be tricky. In fact, more than 38 million American households struggle to pay off their mortgage.

Most of these families took on a home loan that was way above their financial capabilities, and now they’re suffering the consequences. To avoid falling into this category, Primary Residential Mortgage, Inc. and other reputable mortgage companies in Oregon noted that you need to take a few proactive measures. Here are some of them:

Don’t get too much house

It’s common for first-time homebuyers to fall in love with a house that’s beyond their price range. Don’t make this mistake, though, as it will leave you vulnerable to foreclosure. For starters, you have to sign up for a bigger loan that you can afford, which gives rise to a series of misfortunes. These could be monthly repayments greater than the recommended 30% or stretching the loan for many years, or both. A long repayment period might seem like a good deal until you factor in the accrued interest.

Don’t settle for an expensive loan

Surprisingly, you have a say about the cost of your home loan. Well, not directly, but your creditworthiness determines the interest rate. Raising a 20% deposit, having a credit score above 700, and a credit utilization ratio of below 30% can make you get friendly rates. The same case applies if you don’t let any of your bills go to collections.

In addition to the accruing interest, unpaid bills lower your credit score and ruin your financial history. Lenders dig into your financial background to determine how much of a risk you pose to them. If you come off as a risky client, they peg you to a higher interest rate bracket.

Failing to prepare adequately when buying a house throws your finances into shambles and could lead you to lose your house. However, with the right preparation, you can ensure a smooth home owning process and avoid foreclosure.

Why You Should File For Chapter 7 Bankruptcy

debt text on calculator and magnifierIf you are going through a difficult time and you have overflowing debt and other unpaid fees, you might be considering filing for bankruptcy. Chapter 7 is the most preferred option for many.

Chapter 7 bankruptcy attorney in Salt Lake City can help you understand the situation and the actions you can take.

Causes of Bankruptcy

Are you currently on a job hunt, going through a tough divorce, or looking at a long list of medical expenses? These problems can make you qualify for Chapter 7 bankruptcy. On the other hand, businesses that wish to file for bankruptcy must choose a different type, such as Chapter 11.

Filing For Chapter 7: What to Expect

The time it takes to complete filing process is three months to half a year, which is considerately a short amount of time. Once you decide to file, you will be on “automatic stay”, which stops people from collecting money for your debts. However, there are two types of debt that you will have to sort out with your lawyer. These are dischargeable and non-dischargeable debts.

Dischargeable debts include credit and medical bills, which can be removed and lift the weight of some debt off your shoulders. Non-dischargeable debts include child support, student loans, etc. These debts may not be lifted, but if most of your debts were from dischargeable debts that were lifted, you may be able to pay off your non-dischargeable debt. Chapter 7 is a good option for those who have a low salary with little assets available.

If you find that your dues are now too much for you to handle, getting help from an experienced attorney is a wise move. A lawyer can guide you through the difficult times and provide the information and legal help you need.

Jump-starting your Small Business through Consumer Financing

CashProviding an in-house financing plan to your consumers can greatly improve your sales. It can also build a continuous, repeat clientele. Startups that provide customer financing often experience increased sales by a huge percentage. This is based on the fact that most customers make additional purchases in the establishments where they receive customer financing.

Explained below is an efficient way of introducing a consumer financing strategy.

Introduce a Monthly Payment Plan

The overall price of an item significantly impacts on the decision to buy. Having a favorable payment plan can turn simple browsing or window shopping into multiple sales. Every person has a monthly budget. Providing a payment method that corresponds to it will allow customers to understand how the cost of an item will affect their budget. You need to ensure that the minimum monthly payment amount is well displayed so that your buyers can see how affordable your products or services are. Also, find ways to notify your customers of this newly found plan.

Create a Marketing Program

Effective financing incentives such as no interest or no payment for the first six months have in the past proven to boost sales. You may also include other packaging ideas in your financing program. Your consumers are likely to develop an interest in a larger ticket or upgrade if the promotion is based on a minimum purchasing price. You may also include promotions on special days like holidays or Valentine’s Day.

Simplify the Sign-up Procedure

Vyze shares that potential customers and sales associates can be put off by lengthy and cumbersome application procedures about consumer financing solutions. Although every financial agreement has to include essential customer details, you need to ensure that the process is simple and takes minimal time while being effective. You also need to introduce an online application platform. Some people would rather apply anonymously than have a salesperson find out if they are qualified for a loan or not.

Flexible monthly payment methods can attract customers to your business. It is also a great way of encouraging your customers to purchase larger and more expensive items. After implementing an effective consumer financing program, you may sit back and watch as your start-up transform into a big establishment.

Top Tips to Save Money When Buying a New House

Pile of coins, a piggy bank and a miniature houseBuying your dream house does not have to ruin you financially. While homes seldom come cheap, there are many ways you can save money during the buying process. Try one of these simple ones.

Look for the best mortgage rates

Most homebuyers use a mortgage to finance their homes. If you intend to do the same, you will need to be smart when looking for a mortgage lender in Portland such as Primary Residential Mortgage, Inc.

Different lenders provide different terms and rates for mortgages. Visit a number of banks first and compare their offers. Then go for the lowest prices you can find, provided there are no hidden charges.

Be cautious as you make decisions

Once you get approval for a mortgage, it is likely like you will want to start the house hunting process immediately. This is an exciting period, but you need to check your emotions as you decide on which house to buy.

Before committing to buy a house, compare alternatives. Then take a few days to make up your mind which option suits you best.

Bargain the price

You bargain while buying clothes, shoes, electronics, and other stuff, so why not do it as you buy a home? Most sellers would be willing to lower the price, provided the buyer requested for a discount. Take advantage of this and get to save some money.

Bring someone along

There are many little defects you may not notice once you fall in love with a house. Therefore, it is prudent to let a friend or spouse tag along as you view the home. Your companion can spot some of the faults that the house may have and advise you accordingly.

If you decide to take the house anyway, those little faults could help you as you bargain for a lower price.

The home buying process can seem complex, particularly if you are doing it for the first time. By making a few smart choices, however, you can get the house you are looking for and still save much-needed dollars in the process.

Why Set Up a Family Trust: The Top 5 Benefits

Banking Savings Funds Planning Finance Money ConceptFamily trusts have been gaining steam these past years, and why not? It’s an entirely legal way to safeguard your assets for you and your loved ones. Your assets would be owned by the family trust instead of an individual and would be managed by trustees — whom you’ll appoint — for your beneficiaries. What other benefits could a family trust offer? Here are some of them:

  • Legal Asset Protection – You could use a family trust for protecting your assets in the event of a claim against you or if your business fails. You could hold real estate, your business, as well as other investments in your trust.
  • Protection Against Remarriage After Death of Your Spouse or Partner – Currently, the law allows even a de facto partner the right to claim assets even only after three years into the relationship. Having a family trust would safeguard your assets from failed remarriages or relationships following the death or a partner or spouse. This is especially useful in cases involving second marriages or relationships wherein one party isn’t the biological parent of the children.
  • Healthcare Safeguards – A well-structured trust, provided that it’s been established for a certain time could likewise protect family assets in the event of health breakdowns, especially later in life, in which the state might impose that you get rid of your assets to be eligible for healthcare, explains Rainey Collins Lawyers and other renowned family trust lawyers.
  • Asset Protection from Prospective Law Changes in the Future – A properly structured family trust could offer significant protection from a wide array of wealth tax types that might be passed into law in the future like inheritance tax or death duties.
  • Imprudent Investments – A family trust could safeguard your family from falling prey to scams or financial predators and squandering assets prior to them reaching maturity or obtaining ample life experiences to make rational financial decisions.

Advance planning is the key to financial freedom and success, and having a well-structured family trust is only one of the many ways you could help secure your family’s future. Keep in mind that when you do set up a family trust, it must be structured in a way that meets your specific goals.

Vetting Before Purchasing: Checking Out Your Potential Neighborhood

A HouseYou may not realize this now, but liking the neighborhood you will be moving to is just as important as liking your new home. Before you fall in love with a home and decide to buy it, carefully evaluate the neighborhood. Aside from using a home mortgage calculator online from American Loans, use web resources to check the area. After that, scout the neighborhood yourself and walk around to get a feel of it.

Whether online or offline, you want to make sure that your new home is close to your family’s daily needs. Here are some ways to find necessary details regarding each facility:

Schools

The U.S. Department of Education website has a school locator page wherein a local map displays all the public schools in the vicinity. You can check each of their details by clicking the “school profile” section. You may also want to visit PSK12 to see all the ratings and rankings of public schools in a region.

Healthcare

If you want a list of the healthcare facilities in your state, county or city including its ratings and rankings, you can find it on the Consumer Reports site. Their web tool even offers details on the record of every facility in, particularly limited performance categories. Angie’s List and Yelp have plenty of patient reviews regarding primary care and local family doctors if you are interested in knowing more.

Your Home

For more details regarding your potential home, try local offices and courthouse of the city or county. They give out records relating to a home that would date back to at least a couple of decades. The information would include deeds and encumbrances, like mortgages and other fees.    

As you find out more details regarding your new home and neighborhood, try to set your standards to a more rational level. Keep in mind that no neighborhood is perfect, so be more realistic with your expectations.

Investing in Real Estate: Commercial Property Types to Consider

Self storage as a form of commercial propertyIf you’re looking to diversify your investment portfolio and include safeguards against the volatility of the investment market, why not incorporate some property investments in your portfolio? If you don’t know where to start, take a look at some of the most common commercial property investment types below.

Retail Spaces or Buildings

The key to this kind of investment is location. For instance, if you want to invest in a standard strip mall with multiple units, you have to make certain that the location receives a consistent stream of foot traffic or you would be hard-pressed to find tenants.

Office Spaces or Buildings

Office spaces are usually in demand in virtually all cities. If you reside in a smaller town, you may consider investing in one unit first with one tenant, such as a doctor’s clinic. If you live in a bigger town or city, you could consider investing in several office units, or even a whole building.

Raw Land Investments

You could make money with raw land investments in different ways. For example, if you bought wooded land, you could contract responsible logging companies to harvest wood from your property. If the property is suited to farming, you could lease it to local farmers, or you could also just purchase some land and sell it later to property developers.

Multifamily Housing

Multifamily housing refers to apartment buildings. With the demand for affordable housing options, yet consistently increasing rental prices, you could generate a steady income stream with apartment buildings. Additionally, you could even take out HUD multifamily loans from mortgage and financial firms such as Bonneville Multifamily Capital to help you acquire multifamily properties.

Industrial Real Estate

This could mean plenty of things – manufacturing facilities, warehouses, and research facilities among others. With this property type, however, it may be harder to estimate demand so you must do your research well when gauging the area where you want to invest.

All types of commercial investment properties come with its rewards and risks, so it’s crucial that you weigh all the pros and cons of each before investing. To start, ask yourself how you are going to finance the property? Is the market viable for the property type you’re planning on buying? How much money can you earn? Do your due diligence before doing anything.

FAQs about Investing in a Multifamily Home

Nice home investmentIf you are considering buying a multifamily home, understand that there are two types of multifamily properties: residential and commercial. Residential properties have two, three, or four units, while commercial properties have five or more units representing the investment of the owner.

We look at the second type of multifamily property and explore the most common questions investors ask about it.

What is a multifamily loan?

A multifamily loan works just like a conventional single-family mortgage. It is a type of financing for properties with anywhere from five to 5,000 units, including small and large apartment complexes.

Approval for a multifamily loan largely depends on the value and earning potential of the property, although personal credit and income are a significant consideration.

Who can apply for a multifamily loan?

Multifamily loans are for investors who would like to invest in a property that generates income. Most lenders prefer to approve loans for seasoned real estate investors, although new programs are now available for first-time investors looking into the rental industry.

Keep in mind, as an investor, you cannot live in the property.

Where can I apply for a multifamily mortgage?

Outside of Freddie Mac loans, a Fannie Mae multifamily loan provides the best fixed-rate options for investors. Bonneville Multifamily Capital says this allows lenders to reinvest the money they acquired by lending it to others.

The mortgage can run anywhere from seven to 30 years, and borrowers have the option to avail of a floating rate that can be adjusted every six months after the first seven years.

How can I successfully apply for a multifamily loan?

Lenders prefer borrowers who can prove they can pay back the loan with little risk and operate a financially viable rental property. To do this, you must be able to show a track record of success in real estate investment.

Moreover, for new investors, you need to show appropriate transferable skills, such as employee management, property management, or sales and leasing.

If you are thinking of applying for a multifamily loan with Fannie Mae, get in touch with a loan officer who can help you weigh your options and help you compose a loan application that will guarantee approval.

Use an Online Police Check to Improve Job and Business Opportunities

Man signing up for his business applicationThere are many reasons you need a police clearance certificate. The national police check certificate is as important to individuals as it is to businesses and the government.

Police Clearance Certificate for Individuals

police clearance certificate is vital to individuals, as you will need it for a job application, visa application, adoption application processing, overseas employment processing and state job application, among others. As an individual, you will need a copy of this all-important document to secure yourself a job both in the government and the private sector. Employers need assurance that you are a law-abiding citizen and well disciplined.

Police Clearance Certificate for Businesses

The business community has adopted the national police history check as a requirement when hiring. Businesses and employers are required by law to hire law-abiding individuals of good conduct. The most efficient way to follow this rule is by requesting for police checks, to ensure your adherence to the laws of the land.

The federal government and state governments may also require a police clearance certificate for your business. To ensure the smooth flow of your business operations, get yourself and your business cleared by getting a national police check.

Fast and Easy Application Process

The process of obtaining a clearance certificate has today been made quick and efficient. The application process is now 100% online, where you download the application form and fill in your details. This process is available in all the six states and eight territories of Australia. Online application makes sure that both individuals and employers get this crucial information in time for practical usage.

It is now easy to get police history checks in time. You only need a phone, a tablet or computer with internet connection to access the application form. With an online police history check, you are sure to beat any application deadline.