Consequences of Foreclosure VS Short Sale

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The article to follow will give you an insight on the consequences of foreclosure vs. short sale. Read on to find out how these two work.

For those who have bought a house on loan and have to go in the list of defaulters of a bank as they cannot pay back the loan, it is a difficult phase to go through. Apart from the fact that there is tremendous mental pressure and the feeling of having lost the home, almost, there is also this roadblock as to what next. What next in the financial realm. In such a case there can be a dilemma in the minds of the homeowners as to what to do. Should they go ahead with the foreclosure or consider a short sale? Perhaps this article to follow on consequences of foreclosure vs. short sale can help you make the decision.

Foreclosure and Short Sale Explained

Commoners are not acquainted with short sale much, perhaps. Foreclosure is pretty common, though. Let’s take a look at short sale vs. foreclosure, still.

Foreclosure

Foreclosure, in short, means an involuntary sale. It can mean you are selling your house through a trustee’s sale or a sheriff’s sale. In legal terms, it is a termination of equitable right of redemption of a person who has taken a mortgage on home, which is in case the borrower cannot pay off the debt.

Short Sale

Short Sale, as the name suggests, is a comparatively compact and short procedure. It involves the arranging of selling of a property at a lesser price than duly owed with the mortgage company. What then happens is that the bank or the financial institution forgives the remaining loan amount, which is when it is a typical short sale approval. It saves time and energy and cost associated with the consequences of foreclosure and the whole process, which is very lengthy.

Consequences of Foreclosure vs. Real Estate Short Sale

After the explanation about foreclosure and short sale, a close look at the consequences of foreclosure vs. short sale is warranted.

Foreclosure vs. Real Estate Short Sale

Consequences of Real Estate Short Sale

In a short sale, the best part would be that, the real estate short sale process will be totally in your control and the bank will not meddle in that affair. You will get an idea as to who is going to be the buyer and most importantly, the foreclosure stigma would not be attached with your financial status. If you have never made any payment as late as 30 days past the due date, there is a chance that you can buy another home immediately, as per Fannie Mae guidelines. That is of course provided the lender does not need you to pay back. Another very important consequence is that the short sale is not mentioned in your credit history.

Even if it is, it is mentioned as settled or satisfactorily paid. Moreover, a tax liability of a person is decreased as consequence of a short sale. But, if the short sale has been successfully completed for an amount less than what the bank was ready to accept from the homeowner, the homeowner is solely responsible for tax on difference. That is one of the major tax implications of a short sale. However if the payments are still in arrears and the lender agrees to a short sale, you can go for a Fannie Mae backed mortgage and that too in two years of the date of short sale.

Consequences of Foreclosure

The first and foremost is that it will be a huge dent to a home owner’s credit history and report. The foreclosure will become a permanent public record and will be featured for minimum 10 years on a person’s credit history. So a home owner’s credit is affected negatively. Then it is important to remember that a foreclosure sale will be taxed as per the deficit the homeowner has left on a property. If before a foreclosure sale, the market value of the property decreases, most of the tax penalty is forgiven. Foreclosures reduce a consumer’s credit score more than a short sale and they will be subject to income tax liability. All this in addition to collection activity from the lender on a mortgage balance.

Another issue regarding short sale and foreclosure is that the tax consequences are dependent upon the loan being a recourse loan or a non recourse one. A recourse loan allows a lender to pursue the borrower for any shortfall, whereas in a non recourse loan, the lender has only one option, which is to take back the property for recovering the loan.

That was all about the consequences of foreclosure vs. short sale. There are an umpteen number of considerations and nitty gritties involved in short sale and foreclosure which are difficult to explain. Only a good legal and financial adviser can help you with that!

Best Practices for Web Conferencing

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In the modern working style, time management is something everybody should know and understand. Something that makes working round the clock a lot more efficient is web conferencing, or webinars. Know what it takes to make yours a successful one.

So what does it take to be a good host for a web conference? Apart from the latest software and good looks, you mean? Just kidding, more than your looks, people will be interested in what you say and how you say it. It’s obvious that if you use an old computer and a half-broken microphone, your session is not going to go well. To get the best kind of web conference benefits, you need the best bits of technology and be the best talker in the group.

Risks with Web Conferencing

There are a few mistakes and risks involved in hosting a webinar that can be quite costly to anyone who is sharing their screen. Here are some things that you need to be careful about.

  • Stay away from Skype if you’re going to host a web conference. It is meant for private calls and video chatting, not a good idea for being a web conference host through it. It provides with quality tools, but they are only a fraction of what you need for a good session.
  • Be aware and pay attention to the conference proceedings, whether you’re the host or not. You don’t want open high profile, undisclosed documents in the middle of the meeting when everyone can see what’s happening on your computer screen. Always be wary of the fact that your screen is being shared.
  • Know the exact amount of sharing that is going to be done in a web meeting. It is a safe practice to keep your classified data on a different computer from the one you’re using.

Good Things to Follow for Web Conferencing

To host or participate in a successful web conference, follow the list of the best practices for web conferencing given below.

Gathering an Audience

It pays to keep it simple in this area. If someone hears about your webinar and wants to attend, you don’t need to be too intrusive into their personal details. Just get the main information through the registration form and ask the rest of the questions later; questions like, “Where did you hear about this seminar” or “How long have you been in this field”. You can get this information later if you want to. Because a longer form means a lowered interest from the applicant.

Exclusivity

If it’s a web seminar, do not host it for too many people at one go. You should rather hold multiple sessions of the same seminar. This gives the listeners enough time for giving a satisfactory feedback and for asking questions. The lesser the people in a conference, the more attention they eventually pay.

Time Management

A very important habit you need to develop is setting a time limit to each part in a conference and sticking to it. Learn to eliminate anything that may delay the start or end of the conference, and be prompt. This is a very crucial point as you’d be wasting the time of everyone present at the conference, which is a big thing especially since you’re already pressed for enough time to hold a web conference.

Preparation

Keep all your material at stand-by so that you can show it or talk about it whenever you want to. If you’re not used to hosting a web session, you can practice it before you go live and record it. You need to be smooth in operating all the tools during the session.

Memorability

Keep your speech in the meeting or seminar, a speech that can be remembered. It should have a sizable impact on the listeners for them to remember whatever you said or showed. That makes it easier for them to attend the next session.

Good Technology

I’m referring to the better web conference hosting software that you can get your hands on. Some of them are paid, some are free –

  • Microsoft Office Online
  • Adobe Acrobat Connect Pro
  • Dimdim
  • GoToMeeting
  • MegaMeeting
  • MyMeeting123
  • Cisco WebEx

These are the best conferencing software, take your pick and get to know them better.

Clarity

Try to avoid being a speaker who keeps beating around the bush. It’s perfectly fine to explain the context of a session or a point of discussion, but please don’t turn it into a movie narration and drag it on for too long. Be straight and to the point. Know the places where some extra explanation might be necessary and add some points there and be done with it.

Recording

If you intend to host one seminar multiple times, it is a good practice to record some of the older sessions for reference during newer ones. You may even recycle some of the good points that you said in the older session. But whatever you do, do not reuse the entire session. That is cheap and lazy and gives too little scope for people to understand much about the topic, because you’re just dishing out older talks over and over again.

Exploring Relevant Experiences

It is a good habit to keep a record of experiences regarding what you’re going to talk about, whether they are your own or from someone else. Human experiences always have a way of explaining something better than a simple vocal discourse over a matter, you might want to exploit that a little.

Slow and Steady

Once you’ve understood the need to be efficient and fast, you will also get to know the need to be easy and steady. The more you hasten, the more your audience misses out on, which means you will get poor feedback and a storm in the allotted Q&A session.

You’ll notice that some of these points are pertaining to being a better speaker rather than a good webinar host, to which I say that they are both the same. In fact, I think hosting a web conference is even more difficult since it involves a lot of work on a screen to fidget over. You will, in due time, get a hold of what you’re doing, just keep a lookout on the things mentioned above and you’ll do good.

The Situation Enters Rehab

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Jersey Shore star Mike “The Situation” Sorrentino has confirmed a recent stint in rehab to deal with prescription medication abuse.

By the time the upcoming 6th season of Jersey Shore starts filming in a few months, the show might look nothing like the gratuitous, drunken madness that has driven the show’s success. The two most recognizable housemates, Nicole “Snooki” Polizzi and Mike “The Situation” Sorrentino, could quite possibly be clean and sober for a while. In Polizzi’s case, there really is no debate – she’s pregnant and will be unable to partake in the standard operating procedure for the show’s housemates. And The Situation just confirmed via Facebook that he has been in rehab for abuse of prescription medication.

As a result of those two unforeseen developments, there’s a real possibility that the core cast of Jersey Shore will be without its two most intriguing and marketable characters. Of course, given the success of the show, one would have to expect that The Situation is going to be able to pull himself together in time to start filming in the summer. And, unlike in Snooki’s case, MTV could quite easily create the impression that Sorrentino is partaking in all the usual debauchery, even if he’s not.

Sorrentino said that he’s been in treatment for the last several weeks to recover from prescription medications that were originally prescribed to treat exhaustion. Of course, exhaustion is the new catch-all ailment for celebrities who are struggling with any form of drug abuse or mental illness. One has to wonder just how exhausting it must be to be a reality television star, filming sometimes for “months” of a given year, then making paid appearances at various nightclubs for upwards of $50,000 per night.

There are likely thousands of working single mothers and fathers who would be happy to experience the type of celebrity exhaustion that requires a stay in a luxury rehab facility.

Security, web forms and mail server security

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We have recently updated the security on many of the mail and web servers due to various types of hacking and spam attempts.

If you have any contact forms on your website we would advise that you test that they are still functioning correctly, just fill out the form on your website and submit it, if you don’t receive the email notification within a few hours then you may need to have the form updated. Please contact your web designer if your forms aren’t working.

If you are receiving junk mail from your website via these contact forms, we would also suggest that you install a captcha facility to ensure that a real person and not automated software is filling out your form and submitting it.

A captcha facility is the distorted numbers and images that you see on many web forms and forums that ask the user to enter the displayed phrase or answer a question before submitting the form. A captcha will often stop much of the spam emails coming to you that are sent from your website.

We apologise for any inconvenience but would ask you to appreciate that web sites and web servers are no different to many of the things we use in our day to day lives, they require updating and frequent maintenance to remain secure, reliable and useful.

Contact us or your web designer if you have any questions.

How to increase organic traffic by 30%

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Some background information
Statistics for the US and Canada is that Bing (the Microsoft search engine) and Yahoo have a combined market share of 30% of the Search Engine Traffic market.

bing Now the new information
Yahoo is now using the Bing search engine technology so this means Yahoo users get the exact same results as Bing users.

So whats in it for you
Well if your website was or does rank at number 1 in Bing or you optimize your website for Bing you are actually getting 2 search engines (Bing and Yahoo) for the price of 1 :)

Previously we have only ever optimized websites for Google because the market share of the other search engines was to spread out but now with the combined market share of Bing and Yahoo they are worthwhile optimizing for. An extra 30% of 5.2 billion-I think is worthwhile!!
Even if the US is not your target market- be assured these changes are still very relevant to the Australian market place.

So whats the catch…
Well like everything that seems so simple…. it isn’t !!