assignment

Expatriate Assignments – The 18 Mandatory Requests


ACTUAL CASE HISTORY: Dennis was considered a rising star in the field of financial management software. At 39, he'd risen steadily over the years, and now worked for the third largest financial management software distributor in the U.S. As his company's National Sales Manager, he had taken company sales higher and higher for four years straight. He'd also expanded sales into the area of financial management for non-profit organizations, a fast-growing niche. His future seemed very bright.
His company's sales in Europe, though, had lagged repeatedly. Despite several changes in their European sales leadership, sales volume continued to disappoint. When the company's CEO asked Dennis if he'd consider a two-year stay in Germany to rebuild the European software sales team from the ground up, Dennis was receptive. His wife was supportive, and since the kids were just 5 and 8, they seemed still young enough to be very adaptable. Dennis and his wife viewed the assignment as a great career opportunity, as well as a great family adventure. And that it was.
Four months later, Dennis, his wife and the kids had arrived in Dusseldorf, Germany, a charming yet vital city. They'd leased their home in Dallas for the two-years they were to be away. The kids were in an English-speaking school attended by other elementary-age sons and daughters of other expatriate parents. Their Dusseldorf house was leased for them, and even the household help were arranged by the company's local representatives. Dennis planned to revamp the European sales team from the bottom up, one by one, with local salespeople to be identified by local executive recruiters. Initial hiring efforts were promising.
Then came the truly unexpected: seven months into the new assignment, with little warning of any kind, the company was sold to a French conglomerate, with their own ideas about European software sales, and their own Director of Sales, too. Dennis was notified that his services were no longer needed, but that he would be given a fair and reasonable severance package. Dennis inquired about arrangements for his family's return to Dallas, including such things as return flights home, shipping the family's belongings, and finding his family a home in the Dallas area. He was assured that all of his concerns would be addressed.
The rest was, as we say, "not nice." Dennis was presented with a separation agreement that, he was told, had to be signed before he could find out what assistance he and his family would receive in returning home. When Dennis balked at signing it, his salary payments were halted. Then tuition payments stopped. Even their housekeeping services were withdrawn. The people who'd assured him he'd always be treated like "family" were, themselves now "divorced" from the company. HR representatives who he knew for years told him they were powerless to intervene. Dennis was now dealing with people at the new parent company he'd never worked with before. Unfortunately, he had nothing in writing that would give him a legal right to anything.
LESSON TO LEARN: An overseas, "expatriate" assignment can be a "feather in your cap," a step in the path toward being assigned greater responsibilities. But going "expat" involves a multitude of risks, and unusual ones at that. If there's ever a time to "fold your parachute first," it's before you "fly away" on an overseas assignment, taking your family, your household, and your career with you. While the vast number of expatriates who travel overseas come home with fair, reasonable and proper treatment, those who get into difficulties in this regard find themselves in some of the most difficult and harrowing circumstances you might imagine. Before you make the move to an overseas assignment, there are certain requests you must make, and certain written assurances you shouldn't leave home without. Whether your company has a comprehensive expatriate program or none whatsoever, before agreeing to take the overseas assignment offered to you, consider our "Expatriate's18 Mandatory Requests."
WHAT YOU CAN DO: These are the items we suggest our clients raise, and hopefully resolve in a written agreement of some kind, before agreeing to take an overseas assignment.
A. Finance and Career-Related

  1. Salary Differential: You may find that, while your present salary suffices to provide you and your family with a comfortable lifestyle stateside, that same salary wouldn't provide anywhere near that standard of living in, say, Singapore, Hong Kong or Tokyo. Your best bet is to speak with other American "expats" presently living in your country of assignment to get their view of the comparison, and necessary differential.
  2. Tax Equalization: How would you like to be hit with income tax bills based on your compensation from each of two different countries? That may happen unless someone with expert knowledge makes sure it doesn't, and will be there in case it does. Most companies provide "tax equalization," which means that they'll make sure that your after-tax income - no matter what - is equal to what it would have been if you'd stayed stateside. These are very tricky calculations, made only by very few accountants with special knowledge and expertise in this field, who need to be familiar with the laws of many countries. Only three or so large firms do this kind of work. It's doubtful your own personal accountant can help you here. Remember that for the calendar year 2006, for example, you may need this specialized assistance - at the company's expense, hopefully - for a tax audit in 2010.
  3. Minimum Term and/or Notice: Knowing that you will be employed for at least a minimum period of time, and/or knowing that you will have at least a certain amount of notice before termination, are two important "risk-limiters" we always seek. Nowhere are they more important than in expatriate assignments. Whether it's until the end of your children's semester at private school, or the time you think it might take to find a new position - from 5,000 miles away - you should seek these.
  4. Currency Swing Risk: Do your remember the Russian bond default of 1998, or the Asian currency crisis of 1997? They each wreaked havoc in currency markets around the globe. If such things do happen again - and you can depend on that happening, sooner or later - who is more capable of absorbing the risk of your salary becoming insufficient to pay your bills in another country: your family or your employer? This substantial risk should be addressed before you venture overseas.
  5. A Job When You Return: This is one of the most difficult requests to make, and to get written assurances about, but nonetheless the largest risk you face in taking an overseas assignment. Once you're "out of sight," you tend to become "out of mind," and at times available positions become few and far between. Will a position be found for you, no matter what? That's the question.
    B. Travel and Moving Related
  6. Flights, etc.: Necessary flights you may need include (a) for initial house hunting, (b) your actual relocation, (c) flights home 2 or 3 times a year for holidays and the like, (d) flights home for family and medical emergencies, (d) flights home for reverse house hunting, and (e) for your return, preferably to the U.S. city of your choice (as your next job may be in a different city than you came from.) Your flight-rights will need to cover your immediate family, at the least. For those with kids in college, you may need to arrange special trips for them to come to visit you. Will you fly first class or red-eye in coach? Will you be provided tickets, or reimbursement one year later?
  7. Shipping and Storage of Household Goods: Beware of limits to be placed upon the extent of your moving household goods. Expect that you won't be provided any assistance for storage, unless you ask. Consider seriously requesting either a greater allotment for shipping, an allotment for storage, or simply a budget for purchasing new household goods in your country of assignment.
  8. Home Sale Expense and Loss Protection: It is not unusual at all for an employer to cover the home-sale costs and potential losses an employee may suffer in taking an overseas assignment. These commonly include realtor fees, legal costs, and local transfer taxes. For senior executives, in particular, these may include the increased price of buying an equivalent home after repatriation.
  9. Emergency Leave Policy: Over the course of a year or two, you can expect emergencies of one type or another to arise that require that you travel to your home. These may include family illnesses, deaths of friends or loved ones, even lawsuits. Some companies cover the cost of travel in these circumstances, some subsidize such travel, and some don't help at all. Don't be shy about asking about your company's policy, if any, and don't be shy, again, if it is not to your liking.
    C. Local Life and Housing Related
  10. Housing Allowance: It's uncommon for a temporarily-assigned executive to purchase a home during a relatively short-term assignment. Some companies own homes they provide to "expat" executives, but most expect their executives to find and rent their own housing. Especially for a family with children, this often proves prohibitive. In addition to outright salary differential, a specified housing allowance is preferable, and should be requested.
  11. Tuition Allowance: Those with school-age children need to make arrangements for local schooling. Most cities of significant size have English-speaking private schools for expatriate children. In smaller cities, private tutoring may be the only education alternative. Both of these alternatives will require sufficient tuition allowance.
  12. Local Club Memberships: In locales where the local culture is very different than your own, or security is a grave concern, it's not uncommon to see social clubs set up for the international expatriate community. One good example is Saudi Arabia, where socializing in "public" is really not feasible. The social clubs are often quite expensive; their dues should either be paid for you, or at the least subsidized.
  13. Local Critical Care and Support: If a problem of a critical nature arises, will your company provide you with (a) local legal help, (b) local medical help, (c) emergency flight for distant medical help, (d) private security if appropriate, (e) evacuation in tense political, weather or earthquake situations? We often forget how fortunate we are in the U.S., and how those in other countries have daily concerns like these.
    D. Legal and Technical Matters
  14. Immigration Matters: When crossing borders, visas, work permits and the like can be maddening. In some countries, under certain visas you cannot remain in the country more than 24 hours after you've lost your job. Will the company provide you with immigration attorneys BOTH when you leave and when you come home? Will they reimburse you for your own immigration expense? Don't ever expect sympathy or flexibility from border guards, or immigration officials.
  15. Identity of Employer: This issue usually surprises people, because it is just so unanticipated. Many companies operate overseas through local subsidiaries for tax, regulatory and legal reasons. To accomplish this, expatriated executives are sometimes "assigned" or "seconded" to the local subsidiary, who employs them. This can have profound consequences to the executive, including the loss of protection of U.S. laws, the cessation of stock and stock option vesting, and removal from the parent company's other benefit plans (such as long term disability, pension, and bonus.)
  16. Continuing Obligations: In our efforts to limit risks, we request that the matters noted in this memo be raised with employers sending employees on overseas assignments. Certain of the obligations that we ask employers to assume are different than the others, in that they need to expressly continue past any possible employment termination. This is so because after employment ends, unless it is agreed otherwise, all obligations from employer to employee, and vice versa, cease; there's no implied agreement to continue providing services or fulfilling obligations. As just two examples, (a) if your employment is terminated by your employer, will your employer pay for the accountants to prepare your "equalized" tax returns in the following year?, and (b) if your employment is terminated by your employer, will your employer pay for the costs of breaking a local apartment lease? The items in this list that, more than others, need to expressly survive employment termination are 2, 6, 7, 8, 10, 11, 12, 14, 15 and 17.
  17. Binding on Successors and Assigns: In most every commercial agreement, the parties provide that the obligations are binding on the parties' successors and/or assigns. That means that, if a company buys your employer, or even its assets, then the purchasing company is responsible for the obligations of the purchased company. In these days of mergers and acquisitions, this is a very important risk limiter for expats.
  18. MUST be (a) In Writing and (b) Authorized: No matter what you may be told by HR, your supervisor or the company's legal staff, verbal assurances on these matters are simply insufficient to protect you and your family. The same goes for "It's company policy," because "company policy" may change while you're living in Bangladesh. If it's clearly not a problem now, it needs to be clearly not a problem later, and the only way to make sure it's clearly not a problem later is to have it in writing. Additionally, the person who signs any agreement to cover expatriate risks needs, too, to represent that he or she is authorized to do so. [As an aside, be extra careful if you're not married, but in a domestic partnership; special wordings will need to be made in this event.]
    There are many rewards to taking on, experiencing and fulfilling overseas assignments. But in every transaction, there's something more than "rewards" that we need to focus on: "risks." In our employment negotiations, a critical part of our efforts is always devoted to "risk limitation." Those considering expatriate assignments must pay special attention to risk limitation, and this is how they need to do that.
    These are not all of the risks faced by expatriate executives, but they are the primary ones that we've seen cause our clients the most serious problems. Every person, every assignment, every company and every transition has unique problems. You should try to customize your solutions to the particular concerns you have about your particular circumstances.
    A note about our Actual Case Histories: In order to preserve client confidences, and protect client identities, we alter certain facts, including the name, age, gender, position, date, geographical location, and industry of our clients. The essential facts, the point illustrated and the lesson to be learned, remain actual.

Phil Grove – Assignment Of Mortgage, A Student’s Perspective


Phil Grove and his Assignment of Mortgage Payments System or AMPS has been all the rage in the investing community promising to deliver a relatively low-cost, easy to implement investor strategy that provides a solution to the problem of all the "sellers" who are stuck in their homes with no equity and can't get out.
Since many people nationally are now interested in this system, they are definitely scouring the web, and calling anyone they can trying to find an honest to goodness perspective from a Phil Grove, Assignment of Mortgage Program, student.
I happen to be one of these students and from my personal experience, let me say that there are few things that I can say about Phil Grove as an AMPS teacher that would be of interest to anyone looking to get to the land of profitable deals.
I've seen a lot of courses and read loads of real estate investing books but none of them are even close to as thorough as Phil Grove in his Assignment of Mortgage training. Phil has a knack for explaining ideas in a way that is understandable, while also highlighting what is truly essential so you can get to deals as quickly as possible.
Also, in rating Phil Grove as an Assignment of Mortgage teacher, I have to say you have no doubt that this is a guy who got this knowledge "in the street," finding deals the old-fashioned way. He is totally not afraid to get dirty and I have seen him go on site multiple times to evaluate potential deals.
The longer I listened to the "other gurus", I got the impression that most of these so-called "experts" really hadn't done that much investing themselves, and made most their money selling coaching.
I can tell you, when you talk with Phil, it seems like he has an answer to everything. I have grilled him at times with questions and he always has the answers. It is not surprising Phil Grove's Assignment of Mortgage Program is a creative solution to the huge losses of this economy that, with the AMPS system, turns it into a huge opportunity.
Thus, from a student's perspective, I have found Phil to be very through, and knowledgeable about getting deals. Phil Grove and his Assignment of Mortgage training has certainly been useful to myself and my team in finding owner finance deals in this economy.

Mortgage Assignment – Three Keys For Profit Success


The Mortgage Assignment is the all new, no risk strategy invented by the Guru of Guru's Investor Phill Grove. It promotes a no risk; no money down investment strategy that essentially allows the seller of home to sell his house while the existing bank loan stays in place, enabling a buyer to buy a home without getting their own financing.
To take advantage of this system there are three key things that the real estate investor must master.
M.A. Key 1
Finding the deal:
In today's market, there are millions of home that have little, to no, or even negative equity. For various reasons, the owners of these homes want or need to sell. Traditionally, Realtor/closing costs have been paid out of the equity in the home, but if you don't' have any equity then it has to come out of pocket.
This means a $5,000 to $30,000 bill.
OUCH!
Most sellers can't afford that.
Mortgage Assignment style marketing basically targets this particular type of motivated seller. You must master this to get the deal
M.A. Key 2
Finding a buyer:
Since the banks have become very strict on lending for homes. The number of buyers looking Mortgage Assignment style financing has exploded.
That means that Mortgage Assignment type homes have become magnetic. I myself have generated 15 to 30 calls a day on these homes (using proper marketing).
You must master this if you going to find a buyer for the home and make the big bucks off the down payment
M.A. Key 3
Doing the contract:
Doing the contract is essential to making a no risk deal that protects you, the seller and buyer. The Mortgage Assignment Profits System does this and you will have get this handled to start making risk free money.
At the same, if you don't' get this handled, you, the buyers and seller are all at risk. So you must be careful, the investor in this situation has an obligation to protect everyone in a win/win scenario so everybody comes out on top.
As you see, there is a lot of opportunity out there with a mortgage assignment profits system in place. Get the three keys above handled and you will be rocking and rolling the real estate investing world.

How To Buy An Assignment Condo


In the past few years, some cities around the world have experienced booming condo construction markets. These condos are purchased by investors from around the world in addition to some local end users. For investors who bought a new condo from a Developer several years earlier and whose current plans have changed, this is an opportunity to sell before they have to incur closing costs and Developer levies. For buyers who want a brand new condo without having to wait years for construction to finish, or who cannot find what they want in the resale market, Assignments offer a greater selection AND potential savings.
An "Assignment" means you are taking over the contract that the original purchaser holds with a Developer. This works really well if you have a large cash down payment available, although sometimes a smaller amount can be negotiated. Generally what happens is you pay an amount equivalent to the purchaser's deposits to the Developer PLUS the purchaser's profit (the difference between the original purchase price from many years ago and today's selling price). You then are able to move into the condo when it reaches the occupancy stage. When the building registers, you then take out a mortgage and pay the balance owing on the condo to the Developer.
It sounds complicated and it is. However, as long as you hire a real estate agent and a lawyer who are competent and experienced in handling Assignment sales, the process is very straightforward. The advantage to you is that the Assignment market tends to be a Buyer's Market -- there are often many listings in these markets and few buyers -- which means that you can often get a great deal on a brand new condo with little or no competition from other buyers.
That said, locating Assignment sales can be difficult. Generally, Developers do not allow Assignments to be advertised on the Multiple Listing Service systems so these listings are offered by brokerages as Exclusive listings. Some real estate brokerages hold a large number of Exclusive Assignment listings in-house. In addition, these brokerages network on a regular basis with other agents in their market who have Assignment listings, which makes it easier to find listings that meet a buyer's criteria.
Once an agent locates potential properties for you, if they are experienced in this area, they can help you understand the specific details offered by each Assignment such as purchase costs, closing costs, understanding floor plans, upgrades, and many other details. In some cases, the building may have reached occupancy and you can actually view the condo already built. In other cases, you will be buying from Developer plans just like buying a pre-construction condo.
When you are ready to make an offer on an Assignment, you'll need a carefully structured Assignment contract. You then need to work closely with your Buyer's Agent, your lawyer, the Developer's office, and the listing agent to make sure your best interests are protected throughout the transaction.
The most important thing is to hire a Buyer's Agent, but be sure to ask them whether they have done an Assignment in the past and HOW MANY assignments have they done. Many agents have never done even one and you just might be their guinea pig!

Mortgage Assignment – No Money Down Investing – Honest!


Let's face it, there is a lot of "hype" in the Real Estate Investing World and no shortage of big promises like that of the Mortgage Assignment. In fact, I can't tell how many real estate investors I see that get sabotaged before they even get started, trying to avoid all the high priced "noise" that's out there especially when it comes to the term "no money down investing."
So when I put up a headline like "No Money Down Real Estate Investing" I fully expect, and even encourage you take it with a grain of salt.
After all, I don't want you to end up with a heck of a lot of money on your credit cards like I did getting educated about no money down investing strategies.
That stated, I can tell you with a completely straight face that there is a legitimate No Money Down Real Estate Investing Strategy out there that works. Honest!
This is called the Mortgage Assignment or Mortgage Assignment Profits System (Maps) pioneered by Real Estate Investing Guru Phill Grove from Texas.
The mortgage assignment concept is a simple solution to two huge problems
No Money Down Investing Problem 1
The decline of the housing markets has caused a situation where millions of homeowners find their homes within 5% one way or another of their existing loans.
Due to loss of jobs, reductions in pay, or job relocation, a ton of these owners need or want to move.
The trouble, their homes have no equity and are not able to absorb the roughly 8 % commissions/closing costs typical when selling a home. These fees which would equal $16,000 on a $200,000 house would have to come out of the sellers pocket. They can't afford it.
No Money Down Investing Problem 2
The lending squeeze by banks has created a situation where millions of would be home buyers, who used to qualify for loans, no longer get bank funding.
Regardless of what the bank says, the desire to live the "American Dream" and own your own home has not vanished and neither has the hope for real estate investors to find a way to do legitimate no money down investing.A
No Money Down Investing Solution
Pretty simple:
What if you could take the sellers who can't sell their homes, and pair their houses and current loans with the buyers who can't buy a home?
That would solve both problem, and since you as the investor just arranged the transaction, you have spent none of your own money; a true no money down investing deal.
This no cash down investing technique is what Phill Grove has done with Mortgage Assignment Profits System.
He has devised a legal, and ethical no money down investing way for the investor to pair the seller and buyer together, while receive the down payment as a fee which 5% to 20% minus closing costs.
Not a bad day's work!
In a nutshell, this is how the mortgage assignment; a honest to goodness no money down strategy works…

Assignment Orders


I am not a lawyer, I am a Judgment and Collections Broker. This article is my opinion, based on my experience in California, and laws vary in each state. If you ever need legal advice or a strategy to use, please contact a lawyer.
What if your judgment debtor does not have a regular wage job, and gets paid by customers, relatives, renters or tenants, or most anyone else?
An assignment order might be the right (although paperwork intensive) way to try to satisfy your judgment. This article covers Assignment Orders (AOs) in California. It is very important to know your state laws, and if and how assignment orders are allowed.
Assignment orders are (noticed motion) court orders that require a new hearing, and must be served on the other parties. AOs may be able to capture most kinds of (current and future) non-wage income streams.
Because AOs are lawful alternatives to conventional levies, you do not (in California) need to get a writ of execution. Unlike regular levies, the money often gets turned over directly to you.
In some places, the court may require the sheriff to be the levying officer. If that is the case, you will need to have a registered process server open a sheriff levy file, and then have the AO served on the parties, and then file the proofs of service with the sheriff.
Assignment orders can capture most distributions, commissions, and almost any kind of K-1 income. If approved by a court, an AO instructs someone that owes money to your judgment debtor, to pay you instead of the judgment debtor.
Assignment orders are most useful when a debtor receives (non-exempt and non-retirement-based) income. Assignment orders may work, even when the debtor claims they are poor, because income is income. (Most truly poor debtors do not have income streams.)
Assignment orders can last as long as it takes to satisfy the judgment. Like most court orders and judgments, nothing is guaranteed. The judgment debtor could file for bankruptcy protection. Other things may happen to thwart any enforcement action or strategy.
In theory, assignment orders for non-exempt income, can ask for all of the income, not just 25% of the income, as most wage levies (garnishments) can reach.
If the judgment is small, or the debtor is rich, ask for 50-100%. If the judge does not think your proposed order is reasonable, compromise and aim for 25%. (Because CCP 708.510-f seems to be very similar to CCP 706.050.)
If the debtor is not rich, it may be smarter to ask for a percentage, instead of all of their income stream. In judgment enforcement, being too aggressive could increase the chance that the judgment debtor will file for bankruptcy protection.
Usually, judges do not rubber-stamp approvals on assignment orders for creditors. When the creditor clearly shows a synopsis of why an assignment order is appropriate, then a judge may approve their proposed order.
You could document why you have no other reasonable way to enforce the judgment. You could also document any prior court-endorsed expenses and attempts that did not satisfy the judgment.
Assignment orders can also be used to reach income originating from other judgments, when your debtor is the creditor. An AO can order the debtor of your debtor to pay you instead of them (or the sheriff). Again, consider asking for a percentage.
The first step for any AO is learning who is paying your judgment debtor. A debtor exam, could subpoena enough judgment debtor documentation and information, to learn who to serve assignment orders to. Some debtors will pay, when their clients call them, and ask what is going on?
Assignment orders can be general, and not list specific names. They can say "25% of all monies due to the judgment debtor from clients he performs accounting services for". Then, you can serve the assignment order on whoever pays the debtor, including any of their new clients you later discover, after the assignment order is issued.
Another general example would be "The tenant residing at 22 First Street will pay you". That way, if the tenant moves and someone new moves in, you can have the same assignment order served on the new tenant. If the judge will not allow a generic order, you can find out who is renting, one legal way or another.
Sometimes, after being served an assignment order, the third parties still pay the judgment debtor instead of you. Even if they mistakenly pay the judgment debtor, they still owe you that payment.
It is good practice to get certified copies of the AO, to quickly serve on parties and/or their lawyers, so they cannot claim they did not believe it to be genuine.
As with any courts hearings - with AOs; obeying court rules, state laws, and a substantial paperwork load is required.
Often, 5-6 parts (usually in 5-6 documents) are required. For example, an Assignment Order, (an optional) Restraining Order, a Memorandum of Points and Authorities, a Motion, a Notice of Motion (or Entry of Order), and Proofs Of Service, that are filed with the court.
The Notice of Motion (Entry of Order) and the Motion (Order) are sometimes combined into one document. You need to make several copies of all documents, schedule a hearing date at the court, and have the judgment debtor served everything.
In California, CCP 708.510 specifies the debtor can be served by mail. Bring the proof of service to the court, and appear at the court hearing.
If your order is granted, serve a copy of the order on the judgment debtor by mail, and the parties that will be paying you by mail first. If they do not respond, contact them politely, and if necessary, have them re-served personally.
Please consult with a lawyer when you do your first assignment order.

How to Profit by Assigning “Subject To” Purchase Options to Mortgage-Challenged Buyers


For those looking to get into real estate investing in today's market, there is a unique way to profit without needing cash or credit, and without the risks or headaches of owning rental properties. In this article, I will show you how you can place unsellable homes under contract subject to the existing mortgage, and then assign the contract to a buyer who has not been able to qualify for a mortgage. Your profit is on average about 5% of the purchase price.
This is NOT Mortgage Assignment
One of the latest crazes going around the internet now, and many investors' email boxes, is a concept called Mortgage Assignment. To those who may not be familiar with this, it sound like you are just assigning a mortgage from one person to another. Keep in mind that this is not the same as a mortgage assumption where the lender legally transfers the liability from the seller to the buyer. Rather, a mortgage assignment is no more than assigning the payments to the buyer, while the seller keeps the mortgage in his or her name. In the Mortgage Assignment program, the underlying transaction is still a sale subject to the existing mortgage. In either case, the seller of the property is still on the hook, credit-wise, if the mortgage does not get paid. What you will be doing is to find sellers who are willing to sell their property subject to the existing mortgage and market that property to a buyer who has some cash, but who can not qualify for a mortgage in today's tougher underwriting standards.
Why You Don't Need to be a Real Estate Agent
One of the first questions that comes up is how can you do this without being a real estate agent? Well, it is simple. What you will do is to get the seller to agree to you placing a purchase option on their now have an equitable interest in the property. You will be marketing your interest in the property to other buyers. This is no different than marketing your own property to buyers as FSBO.
Understanding "Subject to" Deals
In a "Subject to" or "Sub2" deal, you are buying the property subject to the existing financing. This means that the existing mortgage will not be paid off. If there is equity in the home that the seller wants to cash out, either the buyer would need to have the cash available, or the seller can agree to carry the payments in the form of a second mortgage. Typically, a Sub2 deal is done when there is little or no equity in the property, because the seller can't afford to either pay off the mortgage at settlement, or pay any fees and commissions, or both. The alternatives to this are a short sale or a foreclosure, and neither of those are easy or pleasant.
The biggest issue that one faces with Sub2 deals is something called the Due on Sale Clause. What this means is that when the property is sold, the lender has the right to call the mortgage due, meaning the buyer would then have to refinance the property of the seller faces foreclosure. However, from the experience of almost all Sub2 investors, not once has a mortgage been called due on the sale. Many gurus teach all kind of tricks to avoid the lender being notified about the sale, including a Land Trust and Contract for Deed, but others will teach you to just be upfront with the lender and don't lie or hide anything. The way a lender usually finds out about the sale is not when the new deed is recorded, but when the homeowner's insurance policy has a new owner. In my Find and Assign package, I explain the due on sale clause in more detail and why it is not something you need to worry about.
The Seller's Dilemma
Right now the market is perfect for doing Sub2 assignments. Many homes are now underwater, meaning the seller owes more on the mortgage than the house is worth. There are sellers who can no longer afford the payments on their mortgage and are either struggling to make the payments each month or are behind in their payments and are facing foreclosure. In Find and Assign, I have a matrix that shows the various options a seller has on getting rid of their property, along with the costs of each. If you are able to show a seller how he or she can walk away from their property and making the mortgage payments without affecting their credit, you have a motivated seller, and one who would be receptive to your offer.
The Buyer's Dilemma
In the past, all you had to do to get a mortgage was to fog a mirror. This means you simply had to be alive! Banks and mortgage companies gave out loans to anyone who could fill out an application. There were no-doc loans, stated income loans, and loans for subprime buyers. Down payments we as low as zero. Flash forward to today. Now, you need to prove your income, provide two years of tax returns, bank statements, and have a credit score north of 680. What we have now are buyers who a few years ago could get a mortgage, but now who can't. So, you are in the perfect position to sell unsellable homes to unloanable buyers, all by simply getting the seller to do a purchase option subject to the existing mortgage and assigning this agreement to a buyer for an assignment fee. The new buyer gets the deed at settlement, and pays the closing costs.
Finding Sellers
There are many ways to find sellers, including posting ads on Craigslist and newspaper classifieds. A sample ad can say "We buy homes with little or no equity. Get out from making any more mortgage payments." One fantastic way to find sellers is to call real estate agents and ask them to provide you with leads of those who want to sell, but who can't because they can't come up with the cash to go to settlement. You can offer the agent a referral fee. If the agent is honest and says that he or she can't accept a referral fee, you can still legally pay the agent by having the agent become your buyer's agent. When you get the house under contract and then assign the contract to the end buyer, at settlement the agent would receive their legal commission, depending on what you agree upon. In Find and Assign, I go over many other ways to find sellers for the Sub2 Assignment program.
Finding Buyers
Of course, you need buyers to complete the deal and to make money. You can find buyers by running ads that say "Buy a home with no mortgage qualifying. 10% cash needed." You can run these ads on Craigslist and newspaper classifieds. You can also call mortgage loan officers and ask them for leads on those who want to buy a house but who can't qualify for a mortgage. What you may have to do is simply give these loan officers your info and have them give it to the wannabe buyers. You can offer a fee to the LO on any deal you do.
Writing the Agreement
There are two ways to do this. One way is to write up a simple real estate purchase agreement, where after your name you write "and/or assigns". In the purchase price section, you would write the price, then "subject to the existing financing as detailed in Appendix A. In the appendix, you would list the balance of the mortgage or mortgages on the property, and the existing monthly payment. There are no special forms that are needed. It is only the wording that you have to use. The second way is to write up a purchase option on the home, using the same subject to language. You would then either assign the purchase agreement or the option to the new buyer. If you use a purchase agreement, you need to make sure you have the proper escape clauses that let you walk from the deal if you don't find a buyer. You don't want to actually purchase the property, and that is what the agreement says. With a purchase option, the seller is giving you the right to purchase the property, but you are not committed to do so. If you don't find a buyer to assign the property to in a 90 day period, you just walk away.
When doing these deals, there are also some disclosures that need to be signed by the seller, namely disclosing the fact that the sale is subject to the existing mortgage and that the mortgage will remain in their name. You also disclose the potential for the Due on Sale Clause. What I always suggest is that before you get started with this, you find a real estate attorney who has done Sub2 deals before. You can find one the same way I did, on Craigslist! In Find and Assign, I share with you how I did this, and what questions you need to ask. You also may need a title agency to close the deal, and I cover that in Find and Assign. Your real estate attorney should also know of one to use.
Closing the Deal
All you really have to do is get the end Buyer to write you a certified check for your assignment fee after they do their due diligence on the property, including a title search, inspection and so on. The title search will show you any and all liens that are attached to the property, along with any judgments on the owner and any back taxes that are owed. You can use any title agency to do a search. The fee would be around $60 or so. You can either have the buyer do this or have the seller do it and make it available to potential buyers.
When you have a Buyer for the property, you want to refer them to your real estate attorney to get the deal closed. This way you have done your part to bring the two parties together and thus earn your assignment fee. The key is to have a real estate attorney involved in these deals and not to try a "kitchen table" close. You don't want the seller of buyer coming at you because you did not disclose everything you should have. If you do this right, you can make a reasonable income by assigning just one or two properties per month. If you do a search online, you can pretty much find everything you need in forums and other sites. There are no special forms, other than a Purchase Option, Assignment of Purchase Option, Purchase Agreement and of course the CYA Disclosure Form. Other forms that are involved are an Authorization to Release Information and perhaps a Power of Attorney. If you find a real estate attorney who has done these deals, this person can provide you with all the forms you need.
To Learn More
In my Find and Assign package, I provide you with much more detailed information on how to do Sub2 Assignments. This is all found in one of the bonus packages in the form of a 42 page guide, plus all the forms and agreements you need, including a very detailed disclosure form. I teach you many ways to find sellers and buyers, and even show you how to get others to look at properties for you with no upfront cash. Along with this, you get a PowerPoint package that you can use with sellers, along with other useful tools and resources. There is no need to spend hundreds of dollars on courses or workshops. Once you understand how to find buyers and sellers, and know what forms you need to fill out, you can get started doing this with very little cash. All you really need is the motivation and dedication to place ads online, and what to say to those who call you from your ads. In Find and Assign, you even get scripts and information to send to sellers and buyers.

Medical Issues – Internationals Moving Into the United States


Employees relocating to the U.S. face significant challenges with the medical care system. Some of the information needed is how to work within the U.S. medical system, how to find a doctor, where to go in an emergency, and how to get help for emergencies
U. S. Medical Care
Medical care in the United States in general is of high quality. Many doctors and most hospitals are independent businesses that must generate enough revenue to continue business operations. U. S. medical care also uses the high technology available for laboratory and radiological testing. Unlike many other countries, the United States does not have socialized medical care except for the elderly and the indigent. U.S. medical care is a fee-for-service business, which means that payment at the time of service.
Confusing Insurance Plans
Many employers provide group health care insurance for the employee and the employee family members. Many employers pay part of the cost for this group insurance. The employee must pay a portion of the cost of this insurance. Group health insurance plans take many forms - Indemnity, Managed Care (PPO or POS), or Health Maintenance Organization (HMO). The majority of foreign nationals moving into the U.S. (In-pats) come from countries with socialized medical care and all of these concepts and terms are unfamiliar to them. When contacting medical offices for appointments, most will encounter the question, what type insurance plan do you have? Confusion generates stress for the in-pat family and may contribute to failed assignments.
Bills from Doctors and Hospitals
One area that generates total confusion for foreigners in the U.S. medical system is billing for medical services. The hospital bill, the insurance explanation of benefits, along with co-payments and deductible totally confuse people from socialized medical systems. The terminology is new to them and the level of payment for services is confusing. To reduce stress levels the foreign national should have access to someone to help guide them through the maze of terms and paperwork for medical bills.
Emergencies in the U.S.
The in-pat should understand that for an emergency he should go to the nearest hospital where the medical staff will evaluate and treat the condition or call a specialist to care for the problem. Even knowing to call 911 for emergencies can alleviate stress for the family and especially the trailing spouse. Again, reducing these stressors improves the likelihood of a successful in-pat assignment.
Think of a situation where English is very difficult for the trailing spouse and a child has an accident at home. The parent does not know how to contact emergency assistance and the child is bleeding. Just imagine the panic of the parent. Later, when the parents are together again the family situation can explode suddenly. The trailing spouse blames the working spouse for causing the "mess". Many stories exist about divorces caused by repeated smaller stresses and minor crises. These situations are costly to the employer in lost productivity and possibly failed assignments.
Just as due diligence reduces risks in business deals and good planning improves the chance of success for projects, so too good preparation of employees for international relocation improves the chances for a productive and successful assignment.

How to Look for the Best Finance Assignment Help


It is true that each student is unique. This is not just in terms of his appearance, but also in terms of his strengths and weaknesses. For sure, there are some students out there who are capable of understanding some principles in finance. Yet, there are also some people who might not be able to understand some topics in this subject. That is why if you are one of those people who want to fully understand finance theories and formulas, there are some sites that will provide you with finance assignment help. Since there are so many sites available that is capable of providing you with finance homework help. It is important for you to know how to find the best site to cater to all your needs.
Once you are looking for corporate finance assignment help, see to it that you examine the credentials of the tutors. Remember that the information will be supplied by these tutors. When these professionals are not credible enough, this means that you might not be able to get the best corporate finance assignment help that you are looking for. Determine if the professionals finished related courses in the past. Once they did, this means that they have the capacity to give you valuable information and help to secure your assignments.
You don't just have to look for the credentials of the tutors. It is also important that you examine the credibility of the site offering finance dissertation help. You can determine this by means of knowing the looking for some reviews in the internet discussing the site as a whole. It is preferable to look for the site which has been offering their service for quite a long time already. The site will not last for too long if they are not rendering the best service to their customers. You can also ask other people if they know credible sites with the most credible service ever.
Lastly, you have to examine the payment options and how reasonable the rates these sites are asking from you. Keep in mind that finance project help should not be too much expensive. That is why you have to look for a site offering you with reasonably priced service. If you can, you have to look for some sites and portals offering free service. Surely, there are so many service providers which will not require you to pay any amount. Yet, you can also look for some sites requiring you reasonable payment for it will surely supply you with valuable information.
Just in case you are looking for finance assignment help, these are some of the considerations that you need to know. By understanding these considerations, it would be easy for you to find the best and the most reliable company to work with. So as early as now, it is important for you to do your best in order to spot the best site offering finance assignment help. By doing this, you will be able to reach your goals effectively.

Cooperative Assignments – Creative Solutions in Today’s Real Estate Market


In the current real estate market, the ideal of a cooperative assignment is becoming more and more popular. In such an arrangement, a middle man comes in to affect what the home seller could not himself. Very often, it is used when a middleman gets a seller to agree to a lease purchase agreement and places a tenant buyer.
If there are serious prospective buyers for a property, then the owner has no need for a Cooperative Assignment process, but if not, then such a process may offer them a tolerable alternative to continuing to lose money. The vital component for the seller is that the property has a fixed mortgage rate, as it is much more difficult to lease out property when the monthly payment is subject to change.
Once a distressed home seller is found that is willing to accept a lease option that covers the PITI (principle, interest, taxes and insurance), thereby securing the seller's financial position, the person organizing the Cooperative Assignment then tracks down an appropriate renter that is looking to purchase a property through a lease option. The pool of candidates is much larger than those that qualify to buy the home outright, especially in the current climate where the bank's lending standards have significantly tightened. The great thing about a lease option for the buyer is simply that they get to live in the prospective home for a number of years prior to actually buying it, a number of years in which they can improve their financial position and be prepared to purchase once the option becomes due.
For the person organizing the Cooperative Assignment, most of the fees for the service are collected from the renter/buyers. Further, if the renter/buyers need some help with the upfront fees, this can be lent at a high rate of interest by the person organizing the Cooperative Assignment. The exact mechanics of the process, the fees charged, and the profit made depends entirely on how the organizer chooses to organize the arrangements. In some cases the organizer may serve as a fee-based third party consultant, while in other cases the organizer may become a principal in the arrangement organizing the entire matter as a "Sandwich Lease Option" (where the organizer serves as the official leaser with control of the lease option and then subleases the unit to the renters). The number of ways that a Cooperative Assignment can be organized is solely limited by the organizer's imagination and the willingness of the other principals to go along with the proposed agreement.