The three most frequently used methods to resolve foreclosure are loan reinstatement, forbearance agreement, or loan modification. While there are numerous other specific ways to stop foreclosures, these three are used most frequently.1.) Loan reinstatement is where a lender has started the foreclosure process and the homeowner finds a way to pay back or "reinstate" the entire deficiency owed. The deficiency amount includes back loan principal...more
When a foreclosure is finished and the home is sold or assessed by an appraisal, for the loss on the mortgage, the deficit amount the bank will not get back from the mortgage balance and expenses due, is called a deficiency. In most states, the lender has an option to get a judgment in this amount against the borrower and this is called a "deficiency judgment". In addition to the loss of the homeowner’s home he also has the potential of...more
This article is a plea for something I call Creangelism, or creative evangelism. Let me explain.I speak at the coolest creativity conferences in the world.* It's incredible fun speaking and being with people who believe in the power of creativity and creative problem solving. Walking around the meetings I am empowered by the lack of judgment, the acceptance of ideas, the acceptance of me, and frankly, the love that I feel coming from everyone. When I return from these conferences re-entry into the real world is sometimes quite a shock.The real world is full of judgment, non-acceptance, ignorance, and downright cruelty. Creativity is a remote thought for the vast majority of people. Everyone is creative, but not everyone uses their creativity, in fact, it's an unopened treasure chest of the most useful resource we all have.The re-entries from creativity conferences to the "real" world got me thinking about who's interested in creativity and who's not. It got me thinking of who needs more creativity and who already has an ample amount. It got me thinking about who reads creativity and innovation books, who reads books about imagination, and who reads books about problem solving. It...more
I remember attending a meditation workshop with Mark Epstein, a well-known 'Buddhist psychologist.' He told a story about a meeting he had with Ram Dass, spiritual teacher and author, where Ram Dass had asked Mark Epstein about his work with his patients. As Mark talked about his work, Ram Dass interrupted him and asked, "Do you see them as already...more
You want more revenue and you want it fast. The marketing experts tell you to "create a compelling offer." You immediately think "Sale." You wonder how big the sale should be. How much can I afford to give away before the sale starts costing me money? How will I word the sale materials so customers don't take advantage of me? The worries start and...more
Many companies and their decision-makers require written proposals, and if you are like many sales people, you probably shudder at the thought of this request. However, writing a good proposal doesn't have to be painful providing you keep a few points in mind.First, recognize that closing the sale in a business proposal is a process, not an event. It doesn't occur just because you have asked for a commitment or because you have presented all the features and benefits of your product or service. When a customer or prospects agrees to do business with you after reviewing your proposal, it means that you have addressed their key issues and demonstrated exactly how your solution will benefit their company. This requires a bit of strategic planning.Unfortunately, too many sales people spend too much time talking about their company, product or service at the beginning of the proposal. The drawback with this approach is that decision-makers are extremely busy which means they don't want to waste their time reading something that has little or no relevance to their situation. Salespeople will argue that this information is critical and that they need to present it in order to show how...more
In any business endeavor, a win-win outcome is always the most satisfying and productive. It certainly beats the alternatives - win-lose, lose-win, or (heaven forbid!) lose-lose - in which one or both parties walks away feeling an assortment of...more
The advice often given to young couples starting off in life is "Not to buy what you cannot afford". The same basic advice should be heeded by many. If you cannot afford it- then do not buy the item. But what of investing in your own future in terms...more
I could make up a terrific story about this, but I won't lie - I had avoided (as in postponed, side-stepped, procrastinated) having a board of directors until now. Frankly, I had visions of having a group of old, cranky, humorless men telling me what...more
Have you ever been asked that question?I was! Back in 1979 while doing a "pressure cooker" course on selling with an insurance company!I wondered how relevant that question was, considering my personal and financial situation at the time.No wife! No...more
Sales turnover and net profits may follow a rollercoaster pattern familiar to most business but when the cash flow dries up the game is over. Urgent attention to the management of working capital can provide every business with the cash resources to...more
There are 4 parts to a UFOC:* Cover Page* Table of Contents* Items 1-23* ExhibitsThe format for each of these sections is very specific and covers the following:Cover Page The Cover Page identifies the franchise business, including the name under...more