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Archive for October, 2009

A Guide to Well Furnished Dubai Hotels and Apartments Rental October 29th, 2009

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Dubai is one of the seven emirates of the United Arab Emirates and the city of Islamic people. Tourism is a crucial part of the Dubai government’s as it help in flow of foreign currency into their emirates. Tourist will get variety of activities to enjoy in Dubai. You can do lots of shopping and can visit the night clubs to see the night life of the charming city of Dubai. There are many luxury hotels as well as budgetary accommodation centers in Dubai. You can enjoy each and every moment of your trip according to your budget.

For a memorable stay in Dubai, a tourist can always book a room in Jebel Ali Golf Resort & Spa which is located on the vast shores of the famous Jumeirah beach and it is one of the best resorts of Dubai. The resort consists of a nine-hole par 36 golf course where fun never ends for you if you like to play golf and with its own marina and private beach where you can relax your self and can spend plenty of time.

With 12 restaurants and bars plus over 50 activities and things to do, everyone in the family will find something exciting to do while staying in this world best resort. All the rooms are beautifully decorated and have all the facilities which you want. You can enjoy a stay at Jebel Ali Hotel with rates starting from only AED 660* per night.

Another top-class hotel in Dubai is the Le Meridien Dubai Hotel which is close to the major commercial and shopping areas of Dubai. There is a large swimming pool, surrounded by gardens and palm trees which provide you a beautiful view that it seems “heaven on earth”. The accommodation option is known for its first-class luxurious amenities and excellent services. The other popular luxury star hotels in Dubai are Metropolitan Deira Hotel, Oasis Beach Hotel, Raffles Dubai, Villa Rotana Suites, Dubai, Dhow Palace Hotel and Desert Palm Dubai.

For budget conscious tourists, there are a number of cheap hotels in Dubai which provide luxiers facilities to its customers at reasonable price. Some of the most famous Dubai budget hotels are Panorama Deira Hotel, Panorama Bur Dubai Hotel, Rush Inn Hotel Dubai, Queens Hotel Dubai and Al Mubarak Hotel. Also, there are countless numbers of business hotels in Dubai such as Al Bustan Rotana Hotel, Al Hamra Fort Hotel & Beach Resort and Towers Rotana Hotel, Dubai. Most of these hotels lie near the Dubai international airport, with easy access to the main business and commercial districts of the city.

Apartments in Dubai are well furnished which include the best sea views, equipped and are situated next to the business hubs of Dubai Internet City and Media City. The Self Catering beach apartments & villas will provide you all the luxuries and include the facilities like free high speed Internet, Cable TV, DVD/CD player, 24/7 surveillance, gymnasium, swimming pool, sauna, covered car park. Renting an apartment in Dubai is ideal for visitors who want to spend their budget on shopping and dining and come to visit Dubai for a long period of time. It is much cheaper and comfortable option. A single bedroom apartment will have a rental fee of around 800 Euro every month where as Bigger villas cost around 2,500 Euro every month. If the place is furnished, tenants will have to add another 25% to the total.Dubai is a place where you can enjoy with your family and friends in a way you want. You can enjoy in Dubai according to your pocket and it’s a place where a high-profile people, rich section as well middle group people can enjoy to fullest.

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Foreclosure Hardship Letter – Sample For Bank Loss Mitigation Department October 29th, 2009

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A foreclosure hardship letter is an integral part of Loan Modification or Short Sale package. When homeowners are facing foreclosure, these documents are submitted to the Loss Mitigation Department of the mortgage lender. Loan modifications are offered to homeowners who have the financial ability to become current on delinquent payments. short sales are offered to homeowners who do not have the financial means to pay their mortgage payments. Lenders who accept short sales offers agree to accept less than is owed on the mortgage note.

For most people, the foreclosure hardship letter is the most difficult aspect of loan modification or short sale procedures. It can be excruciatingly painful to express on paper the circumstances which caused the homeowner to fall behind on their mortgage payments. Many people are intimidated by the hardship letter. They don’t know what to say or how to format the letter so it is easy to read and understand.

Keep in mind, foreclosures and short sales are handled by the Loss Mitigation Department of your lender. Employees of this department are referred to as Loss Mitigators. Before you can submit a loan modification or short sale package, you must receive approval from the Loss Mitigator assigned to your account.

More than likely, you will have ample opportunities to personally speak to the Loss Mitigator handling your account. These individuals deal with homeowners in financial distress on a daily basis. Take advantage of building a relationship with your assigned mitigator and ask questions to help you better understand what your mitigator expects. Loss mitigators can make or break your deal, so always treat them with respect and provide them the information they request.

Your foreclosure hardship letter will be read by your personal loss mitigator. Realize these individuals receive dozens of hardship letters daily. Therefore, it is crucial to keep your letter short and to the point, while covering pertinent facts.

When composing your hardship letter you can either write it by hand or type it. If your handwriting is illegible, it is best to type the letter or have someone else write it for you. The foreclosure hardship letter is one of the most crucial elements of your loan modification or short sale package, so take every precaution to ensure the Loss Mitigator can easily read and understand it.

Real estate experts recommend using a business format for the foreclosure hardship letter. This involves placing your name, address, city, zip and phone number at the top of the page. Leave two spaces, then write the name of your loss mitigator, name of your mortgage lender, along with their mailing address. The next line should include the current date. Place your loan number underneath the date. The body of the letter should be between four and six paragraphs. Close the letter by signing and printing your name.

The following is an example of the foreclosure hardship letter. You can make adjustments to the text depending on if you are seeking a loan modification or short sale arrangement.

Bob and Jane Smith

123 Any Street

Your City, State 12345

Tom Jones

USA Lender

123 Anywhere Avenue, Suite A

Anytown, State 12345

Current Date

RE: Your Loan Number (include either Loan Modification or Short Sale)

Dear Mr. Jones,

We are contacting you today to request a (loan modification or short sale) for our property located at (insert address, city, state). We appreciate the opportunity to explain the circumstances which have caused us to fall behind on our mortgage payments. Although we have done everything possible to improve our financial situation, we are still short on the money owed to you.

The reason we have become delinquent in our mortgage payments is (explain the reason here). At this time we do not have enough income to pay our regular monthly mortgage payment. We are concerned that we are falling further behind and will not be able to pay what is owed. We have every intention of paying what is owed, but at this time do not know how to accomplish this. Therefore, we are turning to you for assistance.

We are asking for consideration to temporarily reduce or suspend our mortgage payments for a few months (or allow us to sell our home via a short sale). Doing so, would help us get back on track. Our home means a great deal to us and we desire to work with you to keep it out of foreclosure. Please advise of all options available to stop foreclosure (or initiate a short sale) at your earliest convenience. We are anxious to reach an agreement and appreciate your prompt response.

Respectfully yours,

Print name of Borrower(s)

Signature of Borrower(s)

Loan #

Address

Phone

email address (if applicable)

It is imperative to send the foreclosure hardship letter via certified mail with a return receipt requested. This will ensure you have proof you sent the letter. The return receipt must be signed by someone at the lending institution and the signature card will be returned to you in the mail.

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Securing Commercial Finance October 29th, 2009

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When you first decide to take up Commercial Finance from a Commercial Lender, you need to consider what you have to offer as security for the loan. Items that you can use to secure a Commercial Finance package are generally property, revenue and equipment.

In the UK, most Commercial Lenders will require up 75% of the value of the loan. You will need to come up with as much as possible to secure the loan. The items you put up to secure the loan will be confiscated by the Commercial Lender should your fail to honor the terms of the loan. Let’s look at each of the things that can be used and how they work.

Property

This can be in the form of residential property owned by the principles involved in the business. It can also be existing commercial property that is owned by the business. Finally, it may also include the property you are purchasing, if the Commercial Finance package is being used to purchase property.

When you put up property to secure the loan, the lender will be looking at the equity value of the property first and the total value of the property second. They will also look at the payment history of any property that has not been paid for outright. When the lender has finished looking at the property you have, they will look at your account receivables.

Revenue

The amount of revenue generated on a regular basis. This can be weekly, monthly, quarterly and even annually to see if the income is there to support the payments on the Commercial Finance package. The lender will also look at what your potential for grow is for your receivables. Your previous growth history will help them figure that out. They will look at how much is left when you subtract all your account payables, except the loan repayment and it should be greater than 1.35:1.

Equipment

The degree to which this is helpful will depend on the type of commercial financing you are looking for and the type of equipment you are planning to use to secure the loan. If the equipment has a long shelf life, it will be more desirable than things that have a short shelf life. If your business is a trucking company, the vehicles and the equipment used to fix them could be used to secure commercial financing.

The parts that you would use to keep them running could not be used to secure commercial financing. This is because, once the part is used, it no longer exists to secure the loan. The use of a truck to secure the loan is better because it will presumably be around for a much longer period of time.

If your business is a factory, you could use the equipment you use to make the product you sell to secure commercial financing or a Commercial Mortgage. The supplies used to make the finished product would not be good because they are not going to be around once the product has been made.

This does not mean that short life-span materials cannot be used, but they are counted as general inventory in much the same way as office supplies would be. You need to keep in mind that anything you use to secure the financing from your lender will be lost if you fail to honor the terms of the finance package. The longevity of the equipment is something that will be looked at carefully by the lender.

This is because some equipment, in some industries, out date very quickly and loose value very quickly as well. If you work primarily with computers, your equipment and software will be outdated and worthless long before a loan would be paid off. Factory equipment, on the other hand, will still retain its value many years after the Commercial Finance start date and should satisfy your Commercial Lender.

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How Important Are No Credit Check Car Loans October 28th, 2009

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No credit check car loan is where you can buy a loan from an auto financier without showing your credit history, irrespective of the fact whether the credit history is in form of credit score or credit rating. All this while if you were thinking that dream of buying a car will just remain a dream because you are running out of finances and have poor credit score, with the help of no credit check auto financing, you can have your dream fulfilled.

There are many auto financing companies which are offering the no credit check type of used auto financing opportunity, but ultimately you need to check the authenticity and also the interest rates charged under this type of loan by these lending companies.The borrower will save time when they go for no credit check auto financing, but he/she may have to pay high interest rates, and therefore, the borrower should be completely ready for it. Borrower should also consider of repaying the loan on time, or else, the lender will charge more than just the high interest rates. Therefore, if seen in overall scenario, the no credit auto financing is an expensive auto financing method for those who do not have sufficient amount of money to pay back the loan. Usually, the duration of no credit check auto loan finance is between 3 and 5 years, and lender expects that the borrower should repay the loan within this time frame. And if the borrower wants more time to repay the loan, it may even go up to 30 years with high interest rates.

Have you decided in your mind that you will go for no credit check auto financing? No credit auto financing has paved the way keeping all the hassles of securing an auto loan aside. The financing method has already been used by many individuals to buy a car, and that too without being asked about their credit score. The remarkable thing about no credit auto financing is that you dont have to show your credit rating and credit score to the auto loan lender. But still, there are many other critical points that you need to keep a check on, before securing the loan.

Car loan with no credit is a smart way to buy a car, if you are having sufficient amount of finances available in the form of ready cash. Certainly, it is not for the borrowers who are debilitating financial condition.

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Small Business Credit Card Company October 28th, 2009

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Right now finding a good small business credit card company is like trying to find a needle in a haystack. To be honest with the credit card industry crumbling around us, settling on a small business credit card company is like taking a gamble.

Bad news is all around for Credit card companies, here are some of the latest credit headlines.

J.P. Morgan Chase Acquires Wamu.

Advanta closes its doors on small business credit card holders. Advanta really put a hurt on small businesses as they lowered credit limits to the amount of the balance card holders carried. This credit lowering action by Advanta caused the lowering of credit scores of previous small business card holders. Small businesses were forced to try to find other solutions.

HSBC The fifth largest bank in the world- Begin raking its customers over the coals with shady business practices and obtaining well over 80,000 in consumer complaints online.

Card companies have been revoking earned airline miles, raising interest rates, and hitting consumers with unscrupulous charges to no avail lately.

Visa and Mastercard seamed to have the market cornered for quite some time being accepted in more places, as they used to advertise. However, American Express and Discover card have had less consumer complaints against them – so far.

It is obvious to me that the companies that our gouging card rates and charges are not worried about customer loyalty These Companies are either banking on having the market cornered (J.P.Morgan Chase) or clawing at the edges on their way down (HSBC Bank).

It is quite evident that most Americans will seek out other sources of credit and it seams possible that those alternatives just may be the long time underdogs American Express and Discover. The game is not over yet. So it is still a roll of the dice to try to determine which small business credit card company deserves your patronage.

Business & Finance Tips

Archive for October, 2009

A Guide to Well Furnished Dubai Hotels and Apartments Rental October 29th, 2009

Foreclosure Hardship Letter – Sample For Bank Loss Mitigation Department October 29th, 2009

Securing Commercial Finance October 29th, 2009

How Important Are No Credit Check Car Loans October 28th, 2009

Small Business Credit Card Company October 28th, 2009

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