Author Archives: descriptions
GROUP HEALTH INSURANCE
Most people have a general idea of the nature of ‘group’ coverage. The most common type of group coverage is provided via employment. Many employers provide group health coverage as a benefit to their employees, either by paying the entire … Continue reading
HEALTH INSURANCE PROVIDERS
The following are the different types of insurers: * Traditional Insurers * Domestic, Foreign and Alien Companies * Blue Cross/Blue Shield * Health Maintenance Organizations (HMO) * Preferred Provider Organizations (PPO) Traditional Insurers This type of company is one that … Continue reading
MEDICAL INSURANCE
If you recall, we explained that there are two broad categories of health insurance policies: disability and medical expense. Thus far we have covered disability. Now we’ll take a look at basic medical expense insurance. Basic medical expense policies provide … Continue reading
DISABILITY INCOME INSURANCE
When a person becomes disabled and unable to work, at some point their income will stop. It might be sooner or later, but unfortunately, life goes on and daily living expenses continue to mount. Disability income insurance is available to … Continue reading
HEALTH INSURANCE POLICIES
Health insurance is a legal contract between two or more parties that promises certain performance in exchange for considerations. A health insurance policy is considered a unilateral contract. This is because only one party (the insurer) is required to fulfill … Continue reading
Predatory Lending
The reason predatory lending rose so dramatically is that many lenders operating in the A loan market had subsidiary companies making hard money mortgage loans. This has made a huge amount of money available for these loans, as well as … Continue reading
Home Ownership and Equity Protection Act
Not surprisingly, borrowers getting subprime loans tend to be less educated about finances and more susceptible to what is known as predatory lending practices. To protect these borrowers, the federal Home Ownership and Equity Protection Act (HOEPA) was passed. The … Continue reading
Subprime Mortgage
Much has been said and written lately about the subprime mortgage. The term is used to describe a loan made to a borrower with a poor credit history. Of course, any loan made to such a borrower has a higher … Continue reading
Bridge Loan
A common type of hard money mortgage loan is the bridge or gap loan. As the names imply, it is used to connect transactions (bridge) or fill a void (gap) between transactions. The following are examples of the use of … Continue reading
hard money mortgage
There are two definitions of a hard money mortgage. The first is any mortgage loan not used to purchase the mortgaged property. This definition is used for purposes of foreclosure in states that do not allow a deficiency judgment for … Continue reading