Home Loan Bank of

FHLB JavaScript DHTML Popup Menus From Milonic.com Legal Disclaimer All Rates Advance Rates Rollover Cash Manager IDEAL Way Advances Classic Advance Rates Amortizing Advances HLB-Option Indications Putable Advances Deposit Rates IDEAL / CMA Deposits Rollover Deposits Short-Term Deposits Under $500,000 Over $500,000 Over $5 million Long-Term Deposits Historical Rates SPECIALS January 03, 2005 - Mid-Week Markdown More SOLUTIONS NEWSLETTER Bank Develops Two New Products In recent months, the Federal Home Loan Bank of Boston has developed two new products, reduced the stock requirement for overnight advances, offered a wide range of advance specials, and reviewed collateral options to make banking more convenient for its members. More COMMUNITY-LENDING PROGRAMS Habitat Rebuilds a Neighborhood Habitat for Humanity of Bridgeport, Connecticut, has helped revive a deteriorating city neighborhood by replacing vacant lots and abandoned buildings with new homes built by their owners. More See all profiles EVENTS - 2006 MPF Underwriting Workshops - 2006 MPF Self-Employed Borrower Workshops - 2006 MPF Delinquency Management Workshops - 2006 MPF Servicing Seminar View all events See highlights from special events All Stories SEC Filing The Bank filed an amendment to its Registration Statement on Form 10, which includes its third quarter financial statements, with the Securities and Exchange Commission on December 22, 2005. The form is now available to the public on the SEC web site. More Transaction Hours for December 23 and 30 The Federal Home Loan Bank of Boston's transaction hours for all products will remain unchanged on December 23 and December 30, 2005. More Bank Announces Election Results The Federal Home Loan Bank of Boston announced election results for its board of directors. More HOME | PRODUCTS & SERVICES | RATES | COMMUNITY DEVELOPMENT EVENTS | NEWS | MEMBERS | ABOUT US | SEARCH SITE MAP | CONTACT US | CAREERS | LEGAL DISCLAIMER

home equity. Why? Certain

Home Equity Scams: Borrowers Beware! Home Equity Loans : Borrowers Beware! D o you own your home? If so, it's likely to be your greatest single asset. Unfortunately, if you agree to a loan that's based on the equity you have in your home, you may be putting your most valuable asset at risk. Homeowners-particularly elderly, minority and those with low incomes or poor credit-should be careful when borrowing money based on their home equity. Why? Certain abusive or exploitative lenders target these borrowers, who unwittingly may be putting their home on the line. Abusive lending practices range from equity stripping and loan flipping to hiding loan terms and packing a loan with extra charges. The Federal Trade Commission urges you to be aware of these loan practices to avoid losing your home. The Practices Equity Stripping You need money. You don't have much income coming in each month. You have built up equity in your home. A lender tells you that you could get a loan, even though you know your income is just not enough to keep up with the monthly payments. The lender encourages you to "pad" your income on your application form to help get the loan approved. This lender may be out to steal the equity you have built up in your home. The lender doesn't care if you can't keep up with the monthly payments. As soon as you don't, the lender will foreclose-taking your home and stripping you of the equity you have spent years building. If you take out a loan but don't have enough income to make the monthly payments, you are being set up. You probably will lose your home. Hidden Loan Terms: The Balloon Payment You've fallen behind in your mortgage payments and may face foreclosure. Another lender offers to save you from foreclosure by refinancing your mortgage and lowering your monthly payments. Look carefully at the loan terms. The payments may be lower because the lender is offering a loan on which you repay only the interest each month. At the end of the loan term, the principal-that is, the entire amount that you borrowed-is due in one lump sum called a balloon payment. If you can't make the balloon payment or refinance, you face foreclosure and the loss of your home. Loan Flipping Suppose you've had your mortgage for years. The interest rate is low and the monthly payments fit nicely into your budget, but you could use some extra money. A lender calls to talk about refinancing, and using the availability of extra cash as bait, claims it's time the equity in your home started "working" for you. You agree to refinance your loan. After you've made a few payments on the loan, the lender calls to offer you a bigger loan for, say, a vacation. If you accept the offer, the lender refinances your original loan and then lends you additional money. In this practice-often called "flipping"-the lender charges you high points and fees each time you refinance, and may increase your interest rate as well. If the loan has a prepayment penalty, you will have to pay that penalty each time you take out a new loan. You now have some extra money and a lot more debt, stretched out over a longer time. The extra cash you receive may be less than the additional costs and fees you were charged for the refinancing. And what's worse, you are now paying interest on those extra fees charged in each refinancing. Long story short? With each refinancing, you've increased your debt and probably are paying a very high price for some extra cash. After a while, if you get in over your head and can't pay, you could lose your home. The "Home Improvement" Loan A contractor calls or knocks on your door and offers to install a new roof or remodel your kitchen at a price that sounds reasonable. You tell him you're interested, but can't afford it. He tells you it's no problem-he can arrange financing through a lender he knows. You agree to the project, and the contractor begins work. At some point after the contractor begins, you are asked to sign a lot of papers. The papers may be blank or the lender may rush you to sign before you have time to read what you've been given. The contractor threatens to leave the work on your house unfinished if you don't sign. You sign the papers. Only later, you realize that the papers you signed are a home equity loan. The interest rate, points and fees seem very high. To make matters worse, the work on your home isn't done right or hasn't been completed, and the contractor, who may have been paid by the lender, has little interest in completing the work to your satisfaction. Credit Insurance Packing You've just agreed to a mortgage on terms you think you can afford. At closing, the lender gives you papers to sign that include charges for credit insurance or other "benefits" that you did not ask for and do not want. The lender hopes you don't notice this, and that you just sign the loan papers where you are asked to sign. The lender doesn't explain exactly how much extra money this will cost you each month on your loan. If you do notice, you're afraid that if you ask questions or object, you might not get the loan. The lender may tell you that this insurance comes with the loan, making you think that it comes at no additional cost. Or, if you object, the lender may even tell you that if you want the loan without the insurance, the loan papers will have to be rewritten, that it could take several days, and that the manager may reconsider the loan altogether. If you agree to buy the insurance, you really are paying extra for the loan by buying a product you may not want or need. Mortgage Servicing Abuses After you get a mortgage, you receive a letter from your lender saying that your monthly payments will be higher than you expected. The lender says that your payments include escrow for taxes and insurance even though you arranged to pay those items yourself with the lender's okay. Later, a message from the lender says you are being charged late fees. But you know your payments were on time. Or, you may receive a message saying that you failed to maintain required property insurance and the lender is buying more costly insurance at your expense. Other charges that you don't understand-like legal fees-are added to the amount you owe, increasing your monthly payments or the amount you owe at the end of the loan term. The lender doesn't provide you with an accurate or complete account of these charges. You ask for a payoff statement to refinance with another lender and receive a statement that's inaccurate or incomplete. The lender's actions make it almost impossible to determine how much you've paid or how much you owe. You may pay more than you owe. Signing Over Your Deed If you are having trouble paying your mortgage and the lender has threatened to foreclose and take your home, you may feel desperate. Another "lender" may contact you with an offer to help you find new financing. Before he can help you, he asks you to deed your property to him, claiming that it's a temporary measure to prevent foreclosure. The promised refinancing that would let you save your home never comes through. Once the lender has the deed to your property, he starts to treat it as his own. He may borrow against it (for his benefit, not yours) or even sell it to someone else. Because you don't own the home any more, you won't get any money when the property is sold. The lender will treat you as a tenant and your mortgage payments as rent. If your "rent" payments are late, you can be evicted from your home. Protecting Yourself You can protect yourself against losing your home to inappropriate lending practices. Here's how: Don't: Agree to a home equity loan if you don't have enough income to make the monthly payments. Sign any document you haven't read or any document that has blank spaces to be filled in after you sign. Let anyone pressure you into signing any document. Agree to a loan that includes credit insurance or extra products you don't want. Let the promise of extra cash or lower monthly payments get in the way of your good judgment about whether the cost you will pay for the loan is really worth it. Deed your property to anyone. First consult an attorney, a knowledgeable family member, or someone else you trust. Do: Ask specifically if credit insurance is required as a condition of the loan. If it isn't, and a charge is included in your loan and you don't want the insurance, ask that the charge be removed from the loan documents. If you want the added security of credit insurance, shop around for the best rates. Keep careful records of what you've paid, including billing statements and canceled checks. Challenge any charge you think is inaccurate. Check contractors' references when it is time to have work done in your home. Get more than one estimate. Read all items carefully. If you need an explanation of any terms or conditions, talk to someone you can trust, such as a knowledgeable family member or an attorney. Consider all the costs of financing before you agree to a loan. For More Information The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or to get free information on consumer issues , visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft and other fraud-related complaints into Consumer Sentinel , a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad. FEDERAL TRADE COMMISSION FOR THE CONSUMER 1-877-FTC-HELP www.ftc.gov April 1998

Land Loans The foundation

Bank of Hawaii | Land Loans e-BANKOH SIGN ON Select One ----------------------- Hawaii/Am. Samoa Guam/Saipan/Palau Learn More | Demo | Enroll Other Online Services Sign On Learn More Select one ----------------------- E-BANKOH - Hawaii & Am. Samoa - Guam/Palau/Saipan ----------------------- CREDIT CARD MGMT. ----------------------- INVESTING/WEALTH - Online Investments - Online Trust - Online 401(K) ----------------------- REG. SHAREHOLDER Customer Service Center 1-888-643-3888 (TTY 1-888-643-9888) Re-order Checks Download the Bankoh by Phone Quick Reference (PDF) Open an Account (existing customers) Apply for a Loan More Financial Planning Tools Budgeting Buying a Home Planning for Retirement Borrowing More Contact Us Locations Economics Security About BOH Community -- News Room Checking | Savings & Time Deposits | Loans | Cards | Investments & Wealth Management | IRAs | Other Land Loans The foundation to build your future. Related Links Mortgages Mortgage Rates Loan Officers How Do I Apply? Mortgage Calculators Glossary To Apply Contact a Loan Officer. Got your eye on a hot property, but not quite ready to build? A Bank of Hawaii Land Loan can help you lay the groundwork. Features and Benefits: Loans from $10,000 up to $1,000,000. Lower monthly payments. Available for owner-occupant, second home, and investor purchases. Requirements and Other Restrictions: Certain requirements and restrictions apply. Subject to loan approval. Not valid with any other offers. Careers Site Index Privacy Policy Terms of Use

Investment Property

Investment Property Databank IPD Home About IPD Portfolio Analysis Services Events Indices and Market Information Indices for Derivatives Online Services -- Home Company Overview Directors IPD Measurement Methods Locations Sponsors IPD Links IPD Awards FAQs Press Releases Contact Us Jobs at IPD IPD Frequently Asked Questions Q: Who is IPD? Q: What countries do you cover? Q: What is the company structure? Q: What does IPD do? Q: What services does IPD offer? Q: What is OPD? Q: Who are the IPD's main clients? Q: How do the clients use IPD information? Q: What do you gain from using IPD? Q: How do I join IPD? Q: What type of information is required to join IPD? Q: How do you start a new country service? Q: Who is IPD? A: IPD is an independent research company, who employs over 100 graduates to provide investors, occupiers, advisors and researchers with objective, reliable property benchmarks and indices. back Q: What countries do you cover? A: We cover a growing range of countries. At present we have databanks in the UK, Australia, Canada, Denmark, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Portugal, South Africa, Spain, Sweden and USA. back Q: What is the company structure? A: IPD’s Head Office is based in London, UK with subsidiaries in Paris, France (IPD France) , Johannesburg, South Africa (IPD South Africa) and Sweden (IPD Norden). In other countries we work with local partners who are established within their particular country to provide a regional contact in the national language. back Q: What does IPD do? A: IPD produces high quality reports and results which are used around the world by investors, occupiers, advisors, lenders, analysts and researchers. These consist of : • Portfolio analysis on commercial property investment funds. This gives fund managers and investors fair benchmarks for total returns, plus a full evaluation of investment strategy and portfolio quality. • Indices and market information to give the definitive statement for property returns in each country and each city. This provides a consistent basis for comparison with other assets, and for research that informs investment decisions from international portfolio allocation down to individual building selection. Annual indices are free and can be downloaded from this site. Other publications are various prices and come in the from of an annual subscription. Please email marketing@ipdglobal.com" marketing@ipdglobal.com for more information or call +44 (0)20 7643 9246. back Q: What services does IPD offer? A: • Portfolio analysis (PAS) & benchmarking • Market information and publications • D-PAS – (Desktop-PAS). Available for PAS clients this software can be used to analyse the performance and characteristics of the portfolios and benchmarks from your own PC, with exclusive access to figures not available in the report. • IPD Online - Available for PAS clients, this is a secure delivery mechanism giving secure access to report publications. • Research - Publications and custom data. • TICCS - Tenants, Income, Credit Rating & Covenant Strength - adds business information to Dun & Bradstreet on each tenant, to give investors unique benchmarks of portfolio income quality and the covenant strength of individual tenants. • Management Cost Survey - the only source of comprehensive benchmarks for overall costs of portfolio management, the eficiency of in-house management teams and charging rates of external providers. • Remuneration Service – This offers independent design advice to instruct lawyers, help with selection of appropriate benchmarks and targets, ability to model historic or potential out-turn of proposed schemes and authoritative advice on all technical aspects of performance measurement. • IPD Events - These include conferences , training and briefings. back Q: What is OPD? A: IPD Occupiers Property Databank is the market leader in its field of performance measurement for occupiers, with clients from a long list of FTSE 100 and multinational companies. The Databank contains a building-by-building record of complete estates showing total occupational costs, building utilisation, facilities and estate management overheads to give owners a thorough profile and comparative management tool. OPD also runs a Facilities Management benchmarking group, a Workplace Productivity Appraisal and publishes the International Total Occupancy Cost Code. To see OPD's website go to www.opd.co.uk. back Q: Who are IPD's main clients? A: IPD’s clients are mainly Pension and Life Fund companies. IPD has over 300 UK clients, internationally over 200 clients. OPD has approximately 60 clients. back Q: How do the clients use IPD information? A: Property owners need an industry standard yardstick against which they can compare the returns they achieve on their investments and evaluate their performance. The IPD annual database is the most reliable benchmark of direct property performance in the UK. It comprises 11,000 properties (with a total value of over €170bn at December 2004), equivalent to 45% of the total property assets of UK Institutions and listed property companies. back Q: What do you gain from using IPD? A: • An independent audit of investment returns, calculated on an industry standard basis • A benchmarking service which gives owners an objective measure of their performance against relevant yardsticks • Systematic analysis of the sources of above- or below-average performance • A powerful internal management tool to help to set agendas, monitor progress against targets, and to guide strategy, stock selection and active management decisions • Results in electronic form to permit further internal analysis. back Q: How do I join IPD? A: Please contact claire.herd@ipdindex.co.uk or call +44 (0)20 7643 9217 to join or for more information. back Q: What type of information is required to join IPD? A: To participate in the Portfolio Analysis Service you will need to provide: • A series of annual Open Market capital values, carried out to standard RICS Red Book specification, property level rent passing and open market rental value. • A schedule of tenant leases as at the most recent valuation date, including tenant level rent passing and market rental value. • Annual capital expenditure amounts, preferably timed to the month or quarter. • Completion dates of transactions, with gross and net purchase and sale prices. • Property management costs. • Other non-recoverable revenue expenditure (vacant rates, non-recoverable maintenance costs, bad debts etc). back Q: How do you start a new country service? A:IPD systems can be established in any country where property investors are committed to understanding the financial performance of their holdings. This commitment can then ensure that the essential building blocks of the IPD databank are in place: • Valuations: In the property market where transactions are few, appraisals of market value are needed to form the capital basis of the return calculation. If necessary, IPD will work with local bodies to develop valuation standards to performance measurement. • Participation: IPD databases require a critical mass to build adequate samples of properties to cover complex national markets. Typically investors holding at least 20% of the investment market are required to form the core of the new system. • Definitions: Nationally accepted and appropriate data definitions must be agreed to ensure the compatibility between investors while maintaining the application of international principals. How will the system be established? • Promotion: IPD will work within the market, most likely in collaboration with a local partner, to identify and secure the critical mass of participating investor organisations. • Development: The databank will be constructed by IPD in collaboration with participating investors to ensure that market characteristics are reflected and their reporting needs are met. • Data Testing: IPD will analyse the data initially submitted to ensure its quality is sufficient to support the benchmarks and market indices. Improvements will be proposed and verified before full products and services are available. 1 St. John's Lane London EC1M 4BL Tel: +44 (0)20 7336 9200 Fax: +44 (0)20 7336 9399 Privacy Policy | © 2005 IPD Ltd. All Rights Reserved. Home | About IPD | Portfolio Analysis Service | Events | Indices and Market Information | Indices for Derivatives | OPD Designed by Webrepro

foreclosure property There are

Is Foreclosure Investing for You? Online Catalog | Shopping Cart HOME | Foreclosure Investing | Short Sales | Articles | Financing | Commercial | Mobile Homes | Cash Flow | Legal | News Group CRE Online > Money-Making Ideas > Is Foreclosure Investing for You? Is Foreclosure Investing for You? by Ronald Starr If you are new to real estate investing and considering buying foreclosure properties, you need to be realistic about what you are facing. If you feel more sober about foreclosure investing after reading what I have written below, I will have accomplished my goal. Foreclosure investing is not a good investment approach for beginners. I recommend that you have at least a couple of years' experience with more traditional real estate investing first. The profits from foreclosure investing can be huge. That makes foreclosures attractive. There is an awful lot to know in order to avoid the problems that can occur. If you don't know what you are doing, one disastrous foreclosure investment can wipe out your capital and your enthusiasm for all real estate investing. Three ways to buy a foreclosure property There are three basic approaches to buying properties in foreclosure depending on the stage of the foreclosure process: buying pre-foreclosures, buying at the foreclosure auction, and buying from lender after the foreclosure sale. If you buy from the delinquent property owner before it goes to auction, you have bought a pre-foreclosure deal. Buying at the auction is self-explanatory. If nobody bids, the lender ends up with the property. Buying from the lender after the auction is called buying REOs (real estate owned) or Repos, (repossessions). Sometimes you will see them referred to as "corporation owned" or, my favored term, "lender owned." REOs are the least risky way to buy foreclosures You may have more risk than you would in a regular real estate transaction, but REOs are less risky than in buying at the auction. Since REOs are somewhat similar to a regular sale, they can be pretty safe. You might not get a seller's disclosure. In California, a lender who acquires a property through foreclosure does not have to offer a disclosure to you as a buyer. But, if there are problems after you buy the property, you might be able to sue the lender who sold you the property, or at least threaten to sue them, and they might make things right or pay part of the cost. There's a good chance they will still be around after the sale. The risks of buying pre-foreclosure real estate The next riskiest foreclosure purchase is the pre-foreclosure. If an owner of a pre-foreclosure disappears, you risk not getting anything from him after the sale. A pre-foreclosure seller might be desperate and lie to you about the condition of the property and the neighborhood. There might be liens on the property that the seller "forgot" to mention. The big utility bills become the buyer's responsibility if the pre-foreclosure investor failed to check them out. Ditto for unpaid property taxes. There may be another person on title who did not sign the deed, and so on. In California and, I believe, some other states, there are special laws related to dealing with and buying a property from a homeowner occupant who is in default on a loan. If the contracts and the sale are not done according to the law, the seller has the right to rescind the sale and could, long after the sale, sue to have the sale reversed. There are extreme penalties for violating the law. Remember, "Ignorance of the law is no excuse." You need to know the state law when you do pre-foreclosure investing. Can the seller can legally deed the property to you? What if the seller is already in bankruptcy? The deed is likely not valid unless it has gone through the bankruptcy court. You have to call the local bankruptcy court to check for a possible filing. And, of course, the seller could have filed bankruptcy in another bankruptcy court that you did not call. And, even if the seller does not file bankruptcy until after your purchase, you may have to deed the property back to the seller up to three years after you bought it. If selling the property made the seller destitute, and the seller sold for much below market value--which you hope he did so you could make a good profit--the bankruptcy trustee can require you to deed the property into the bankruptcy estate on the grounds that the sale was a "fraudulent transfer," wherein the seller deprived his creditors of an asset which could help pay the debts. At that point, you become a creditor of the bankruptcy estate. Is this really what you planned when you bought the "great pre-foreclosure deal"? A lot of pre-foreclosure buyers may forego some of the inspections because they are hurrying to buy before the foreclosure auction. Sometimes the buyers will give money to the owner, get a deed, and record the deed themselves in the land records office of the county. The pre-foreclosure buyer has to be very alert to a lot of possibilities and check them out. You must have superior knowledge of real estate investing before you start doing pre-foreclosure investing. But, if you sign a proper sales contract with the owner, get appropriate inspections, go through an escrow with a knowledgeable escrow agent, and look at the property yourself, you probably will not be at great risk. If you use the safeguards above, you are going to have less risk than in most foreclosure auction buys. The risk of buying at the foreclosure auction Buying at the auction is the riskiest foreclosure purchase. At the auction you have no real estate agent to lead you through the process. You have no escrow and no title report let alone title insurance. In most jurisdictions it is an all cash sale. In some states you may have a week to a month to come up with the full purchase price. If you do not raise the money, you lose your deposit. At the auction the people conducting the sale will announce that the successful bidder will receive NO WARRANTY OF ANY KIND. You have no assurance that there are not other liens or loans on the property. You do not have any inspections by contractors, roofers, pest inspectors, building inspections, water well, or septic system experts. You get no disclosure from the seller as to the condition of the building or what is happening in the neighborhood. Usually you cannot see the inside of the building; perhaps not even the back of the outside. You know nothing about the electrical system, the plumbing, the heating, or air conditioning. If you buy an occupied property, you have to do an eviction, which, in some states, can drag out for a while, preventing you from getting into the property quickly to prepare for resale. Sometimes the occupants, if they are former owners, will vandalize the properties before leaving or steal items, such as cabinets, doors, fixtures, lamps, etc. If you are buying to resell the property quickly for a profit, you had better know if your buyer can readily get title insurance when buying your foreclosed-upon property. When you get a very good deal at a foreclosure auction, you may find that the former owner files a lawsuit to attempt to overturn the sale. So be prepared to hire an attorney and fight for your profit. Experience and knowledge build your foundation Now do you begin to understand why I recommend that beginners not start investing in foreclosures? Start with simpler buying approaches and get some experience with properties, laws, ordinances, deeds, and loans, and so on to provide a foundation. Learn to do title searches as fast as the professionals. Get to know intimately the government offices that have property records and tax assessment rolls. Get to know the property values in an area where you invest. Learn about the problems with properties in different neighborhoods, such as bad soil, poor construction in certain subdivisions, problems with septic systems and wells, and soil contamination. When you have learned all that, start studying up on foreclosures. Study the foreclosure laws in your state. Study law books on the priority of liens, bidding at auctions, title insurance, and bankruptcy. When you fully understand foreclosures, start buying them. I am not trying to stop you from investing in foreclosures. They can be profitable for those who can practice it well. But, few beginners can do it well. I'm telling you to be realistic and get the background that will allow you to be successful in foreclosure investing. The field is rife with risk. You can easily lose your whole investment if you make a single mistake. Please believe me, even with all my years of real estate investing experience, it has happened to me. Good Investing, Ron Starr MORE INFORMATION More on this topic... Customers also bought...