Archive for July, 2007
July 27th, 2007
What the Heck is a Bridge Mortgage?
Posted in Uncategorized by jkwent
As a mortgage professional, I get a lot of interesting questions. Just this morning, a new customer, an older gentleman, walked into my office and bluntly asked “What the Heck is a Bridge Mortgage?”
He actually used some different language (not exactly family friendly if you know what I mean). You get the point though.
It turns out, this man is a farmer and has a creek on his land. The creek keeps overflowing onto the only road into his land. He wants to build a bridge over the road to avoid getting stuck when the flooding happens. One of his friends told him he had heard they gave mortgages for bridges.
Keeping a straight face, I had to explain to this customer that bridge loans do not really have anything to do with building bridges. I explained to him that bridge loans help people bridge their finances from one home to the next.
Needless to say, he didn’t need a bridge loan afterall. I then proceeded to explain to him that a home equity loan using the existing equity in his farm might well cover the bridge expenses. He was happy and filled out an application.
comments
July 5th, 2007
Where My Friend Found Financing For His Customized T Shirs Business
Posted in Business, Finance by zoogie
My friend Willy found some pretty creative ways to find financing for his customized T shirts business. First of all he asked for funds from his parents. He did this because he knew that they would not ask him to repay it! The next thing he did was to appeal to some of his most loyal customers for support! It doesn’t seem like that would work, but it did - and now he is on a much firmer financial footing, with a rosy outlook on the future!
comments
July 2nd, 2007
Great Work From Home Idea: Virtual Assistant
Posted in Business, Helpful Info, Management, Uncategorized by zoogie
Here’s a great work from home idea: be a virtual assistant. What is a virtual assistant? A virtual assistant is someone who provides administrative assistance via their home PC - everything from email, to blog posting, database updating, managing office schedules, travel and conference arrangements. It’s a great gig - and you never have to leave home!