Tag Archives: property
Hsu Chi Lin: Property Owners, “mortgage” Street Sale – Ent Medicals Disposables
Construction in Wuhan, the tide of two types of society, a real estate owner “light” LED energy-saving lamps. In early June, held in Beijing, “China’s first Innovation Day & 2009 China Business Innovation Forum”, Wuhan Optical Baron Lai Chi Lin Hsu, chairman was named “2009 Outstanding Innovative Entrepreneurs in China.”
As the only native of Wuhan, the LED head of the entire lamp enterprises, Hsu Chi Lin painstakingly. First R & D problems, almost failed to be 6 million yuan. Was successfully developed low-power, high brightness, long life LED light source lamps and other products, they face high prices, the market is difficult to quickly accept the bottleneck.
However, Hsu Chi Lin and his team finally found a “financial marketing” of the clever ways to promote energy-saving light into the fast lane. Two weeks ago, Bo Le Lay has just signed a single, his LED lamp lit Wuhan Airport Road.
Aim: to find business opportunities along with two types of society
Hsu Chi Lin sea in 1996. At that time, real estate development entry barrier is low, he will soon get the first barrel of gold digging.
China has strongly advocated green energy, Wuhan approved two types of social experimental zone, Xu Lin’s determination to give new energy saving industry, targeting his fancy lamp industry, the street lamps shining warm, but Voeux Road 250 watts each lamp, each sub-trunk 400 watts, 600 watts each main road, 10 hours every night, a waste of amazing.
Xu Lin decided to give a significant energy saving LED lamp made of standard lamps. The greatest difficulty is, LED lamp with birth defects, such as flashlights direct bright light, and insufficient proliferation, unlike ordinary lamps, to illuminate both sides of 15 meters.
Twists and turns: R & D costs almost six million ducks and drakes
Began in August 2007, Hsu invited to give Lam Central China Normal University, a professor of physics Electricity, R & D team composed of an attempt to overcome the shortcomings LED lights.
Hsu Chi Lin said, the factory developed repeated trial, although R & D investment are prepared, but at the baskets of imported chips are thrown away like garbage when there is some distressed. February 2008, R & D costs are more than 6 million yuan.
Last month and a half, Hsu Chi Lin re-enter the 2 million yuan, accompanied the R & D team day and night, sleeping only four to five hours a day. April 8, 2008, standard LED lamps that light has finally been lit. This LED folding light energy saving lamps, energy saving, 60% were identified to 80%, the results obtained patents.
Marketing: The “mortgage” means to sell street lamp
Product out, Hsu Chi Lin began to introduce to the market, his LED lamp unit in between 1800 to 3800 yuan, but only 1,000 yuan a general light, which greatly exceeded the original budget of customers, many units of the recommendations put forward installments.
Hsu Chi Lin is a real estate started to do, he knows, “mortgage” appeal. After more you ask, Hsu Chi Lin HP leasing company to the United States to seek cooperation. June 2008, HP is willing to provide 3 to 5 years of installment financing. HP bought the first light, leased to the user, until the other party to pay the rent finished, it will transfer ownership in the past.
In the second half, this lightweight model approved by the Hunan Huarong Industrial Park, Industrial Park, bought thousands of lamps, a few million dollars turnover, which makes Hui Chi Lin confidence. This model project opens sales Hsu Chi Lin deadlock, products have moved into Jiangxi, Jiangsu and Xinjiang.
Now, Hsu Chi Lin is working with the banks, hoping to the same street as the housing, through the “mortgage” means sell.
FHA Reverse Mortgage Loan-Get a Hang of It
What is an FHA reverse mortgage?
First and foremost of all, the readers should know what a reverse mortgage is. Well, it is a special type of remortgage without any obligation to make repayment till the homeowner lives in the house. Therefore, reverse mortgage is a loan that is secured against a property. The FHA reverse mortgage is a program having a strong backing of the federal government. It is often referred to as home equity conversion mortgage or HECM (abbreviated format). The prime reason why the majority of the elder persons prefer the FHA program to other available reverse mortgages is that it is fully guaranteed by the government of America.
Eligibility criteria for the FHA reverse mortgage
The homeowner who is at least 62 years of age can avail the FHA reverse mortgage facility. The home must be in a fine condition so the borrower can easily avail a myriad of facilities through such reverse mortgage program. There are certain houses that are eligible to avail this remortgage loan. From a single family dwelling to detached homes to townhouses to commercial properties — it is a prolix list of the suitable items that qualify to access the loans through the well conceptualized FHA reverse mortgage facility. There may be more than one family living in the same property. In that case, the borrowers may be more than one. But here lies an interesting kink. If the co-owner is yet to reach the age of 62, he or she must have to sign a proclamation passing the ownership to the aged co-owner. One more criterion is that the aged persons should not have more than 25% mortgage remaining on their properties.
How much can be borrowed through a FHA reverse mortgage plan?
Well, it depends on the amount of equities that are bottled up in the houses. The location of the property, the prevailing rate of interest and the age of the borrower play the vital roles in deciding the amount to be accessed. A cap is also placed indicating the maximum amount that can be borrowed through a FHA reverse mortgage plan and this amount is reviewed on yearly basis.
The advantages of the FHA reverse mortgage planning
The FHA reverse mortgage originated from the idea of improving the financial penury of many an elderly person. Improving the financial status may be the most vital reason for taking such remortgage plan but there are other convincing reasons such as meeting the health care costs or enjoying the vacation that prod a homeowner to take help of this policy. The major advantage is a borrower is allowed to live in the same property that he or she has utilized to arrange the required money. Moreover, there is no need to get worried over the repayment issue if the person is not planning to sell the house and shift your base to another place. In case of the commercial mortgage loans, a borrower has to sign the deal accepting the clause of paying the money back to the lender after a certain period of time. But the FHA reverse mortgage loan is completely a new concept. The lender can never claim the ownership title till the person lives in the property and does not pass away. Even after the death of the borrower, the immediate heirs can take the burden of repaying the loans in due course of time. It is not mandatory to sell the house to repay the loan that a person has borrowed through the FHA reverse mortgage loan. He or she can collect money from any source and pay it back to the lender.