Loan Principal – Flight 93 http://flight93.org/ Tue, 11 Jan 2022 02:13:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://flight93.org/wp-content/uploads/2021/07/icon-5-150x150.png Loan Principal – Flight 93 http://flight93.org/ 32 32 Here’s how much a $ 100,000 mortgage will cost you https://flight93.org/heres-how-much-a-100000-mortgage-will-cost-you/ Tue, 11 Jan 2022 00:10:33 +0000 https://flight93.org/heres-how-much-a-100000-mortgage-will-cost-you/ Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours. If you’re wondering how much a mortgage […]]]>

Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours.

If you’re wondering how much a mortgage payment of $ 100,000 will cost, use this primer for answers to your questions. (iStock)

A home payment is often the biggest expense in your monthly budget. And the amount you pay on your mortgage can vary widely depending on a number of factors, including short-term and long-term expenses.

First, there are the upfront costs, like your down payment and closing costs, including title insurance, attorney fees, appraisals, and taxes. You will also have expenses that span the life of the loan, such as your monthly payments, interest, and escrow fees.

Before signing on the dotted line, it is essential to understand the fees related to your mortgage.

Credible can help you see how much house you can afford, and help you compare the rates of several lenders.

Many factors affect your monthly mortgage payments, including the interest rate, repayment term, property taxes, and whether you take out private mortgage insurance (PMI).

Your monthly mortgage payment typically consists of the following:

  • Main – Principal is the amount of money you borrow when you take out your home loan. At the start of your loan term, only a small portion of your payment goes towards principal. Over time, the principal part of your payment will gradually increase while the interest part will decrease.
  • The interest – Interest is what the lender charges you to borrow money, and it is the largest portion of your mortgage payment when the loan begins. The more you pay off the principal over time, the less interest you will have to pay on the loan.
  • Swindler – Your lender may deposit a portion of your mortgage payment into an escrow account to pay your estimated property taxes and homeowners’ premiums and mortgage insurance.

The following table is an example of what the monthly mortgage payment might look like on a $ 100,000 loan, but does not take into account PMI, taxes, or other filing fees.

A down payment directly affects your monthly mortgage payment. Simply put, a a larger deposit usually results in lower monthly payments. Since your down payment reduces your loan balance, your monthly mortgage payments should be lower.

Unless you get a government guaranteed loan, your lender will likely require a down payment for a mortgage. Many lenders require a deposit equal to 20% the cost of the house you want to buy, but not always. Ultimately, the amount you need for a down payment will depend on the type of mortgage you are applying for.

Here’s a breakdown of the down payment requirements for the different types of mortgages:

USDA loans

USDA loans are one of two loans (the other being VA loans) that do not require a down payment. If your assets are over USDA limits, you may need to use some of your assets for the loan. While you don’t need a down payment, you will need to find the funds to pay the closing costs.

AT qualify for a USDA loan, you will need to find accommodation in an eligible area, usually rural areas with less than 35,000 inhabitants.

FHA loans

Federal Housing Administration (FHA) loans require down payments as low as 3.5%, although you do need to pay a mortgage insurance premium. FHA loans also allow for lower credit scores, making them a useful option for borrowers with limited savings and lower credit scores.

The FHA does not offer these loans directly. Rather, the agency insures the loans, which are issued by lenders approved by the FHA.

Conventional loan

The minimum down payment on a conventional loan is 3%, although most lenders offer conventional loans with down payments ranging from 5% to 15%. But if your down payment is less than 20%, your lender might ask you to pay for private mortgage insurance as part of your monthly payment. On a conventional loan, the PMI can be eliminated once you have 20% equity in your home.

VA loan

A VA loan is a type of mortgage guaranteed by the United States Department of Veterans Affairs. Current military, qualifying veterans, and surviving spouses can apply for a mortgage with no down payment or PMI fees, as long as the home is not priced above its appraised value. With a VA loan, you may have to pay a one-time finance charge.

With Credible, you can generate a pre-approval letter and see the rates of several lenders.

A local bank or credit union can provide personal experience, especially if you already have an account there. But online lenders can offer a convenient process that you can go through online without ever leaving your home.

It is always a good practice to shop around with various lenders and ask for quotes for the lowest rates available. You can pre-qualify for loan offers by providing basic information to several lenders so that they can perform a gentle extraction of your credit and examine your credit score. Once you have received offers, you can compare loan amount, interest rates, loan terms, fees, and other variables from several lenders to find the lowest rate and the most suitable option. more affordable for you.

Credible simplifies this process by allowing you to compare all of its partner lenders side by side and get prequalified rates in minutes.

Getting a mortgage for $ 100,000 may seem like a daunting task, but it’s actually pretty straightforward. By performing the following steps, you may be able to be eligible for a mortgage that helps you buy the house of your dreams:

  • Figure out how many homes you can afford. Review your monthly budget, including your income and expenses. You’ll want to include your down payment in your calculations, and don’t forget the regular home maintenance and repair costs, which can range from 1% to 4% of your home’s value per year. A mortgage calculator can be a useful tool in determining what your monthly payments might be.
  • Review your credit report. Your credit report has a big impact on your mortgage eligibility and the interest rate you are offered. This is why it is so important to identify any negative marks on your report and address them in advance. Check for errors or mistakes and dispute them with credit bureaus to have them removed before applying for a loan.
  • Get a pre-approval letter. Pre-approval letters let home sellers know you are a serious buyer and inspire confidence in your offer to purchase a home. The letter also lets you know the loan amount for which you might be eligible.
  • Shop around and compare the APRs. When you apply for pre-approval, lenders will usually send you a loan estimate that discloses the costs and fees included in the loan. With multiple loan estimates on hand, you can compare offers to identify which one is best for you. Note that the Annual Percentage Rate (APR) is different from the interest rate because it includes other expenses, such as set-up costs, appraisal fees, and mortgage insurance.
  • Submit a complete mortgage application. Once a seller accepts your offer to purchase, the next step is to choose a mortgage lender and complete an official mortgage application. Be prepared to submit financial supporting documents such as pay stubs, W-2s, and bank and investment account statements. When you submit your application, the lender will check your financial information to determine if you are financially able to repay the loan you are looking for.
  • Prepare for closing. If the lender approves your home loan, they’ll give you a closing date. At closing, you will need to submit a cashier’s check or wire transfer to cover the deposit and closing costs. And since most mortgage providers require that you have a home insurance policy, you’ll want to put it in place before the closing date.
  • Get the keys. On the day of closing, you will attend a closing meeting, which usually takes place at the title company that legally guarantees your legal ownership of your home. You will sign the sales documents and submit your payment for closing costs. When the funds are cleared, you will get the keys to your new home.

Whether you are asking for a mortgage of $ 100,000 or something different, it is essential that you understand the total cost of the loan to make sure it matches your budget, current financial situation, and financial goals.

To get a clearer idea of ​​how the loan could affect your financial future in the short and long term, you need to know how much you will need for the down payment and closing costs, the monthly mortgage payment and the total. interest you will pay. pay on the loan.

Remember that the amount of interest you will pay depends on your interest rate, among other factors. The higher the interest rate, the more interest you will pay.

For example, a loan of $ 100,000 with an interest rate of 3% will incur interest charges totaling $ 51,777 on a 30-year fixed rate loan, while a similar loan with an interest rate of 4% will result in a total interest charge of $ 71,870.

The length of your mortgage also plays a role in the amount of interest you will pay. In the above calculation, a 30-year mortgage of $ 100,000 with an interest rate of 3% will cost you $ 51,777 in interest. But if you cut the mortgage term in half with a 15-year loan, the total amount of interest drops to $ 24,305.

Credible can help you see how much house you can afford, and help you compare the rates of several lenders.

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Why bank loans look attractive in today’s market https://flight93.org/why-bank-loans-look-attractive-in-todays-market/ Sun, 09 Jan 2022 05:33:00 +0000 https://flight93.org/why-bank-loans-look-attractive-in-todays-market/ KanawatTH / iStock via Getty Images By Reema Agarwal, CFA, Director, Floating Rate Debt, Franklin Templeton Fixed Income The technical and fundamental situation appears favorable for bank lending for a number of reasons, according to Reema Agarwal, director of floating rate debt at Franklin Templeton Fixed Income. She says current spreads look attractive in what […]]]>

KanawatTH / iStock via Getty Images

By Reema Agarwal, CFA, Director, Floating Rate Debt, Franklin Templeton Fixed Income

The technical and fundamental situation appears favorable for bank lending for a number of reasons, according to Reema Agarwal, director of floating rate debt at Franklin Templeton Fixed Income. She says current spreads look attractive in what is likely to be a period of tight monetary policy during the year, and periods of volatility should be seen as buying opportunities.

Note: The video below was recorded in December 2021. References to “next year” therefore refer to 2022.

With the exception of a brief hiatus around the discovery of the Omicron COVID-19 variant, credit spreads have continued to tighten steadily, especially since mid-September, when expectations regarding the narrowing of the US Federal Reserve and rate hikes began to escalate, which provided favorable winds to the floating rate bank lending industry. Technical conditions remain sound: record guaranteed loan bond (CLO) issuance and retail demand have supported loan prices. While there may be a lull in loan market activity in early 2022, as market participants absorb the implications of the transition from the London Interbank Offered Rate (LIBOR) to the guaranteed overnight rate. On the day (SOFR), we believe that CLOs will continue to be an attractive option for investors, which supports loan valuations and provides a floor on loan prices. Overall, retail flows have been consistently positive in 2021, driven by expectations of higher interest rates.1 We believe current credit spreads are attractive and technical conditions remain in favor of a tightening path. We also believe that expectations about when an interest rate takeoff will be a key determinant of credit market sentiment.

As expected, the path to a full recovery has been uneven across sectors and issuers as economies fully reopen, based on trends in office versus remote work, security restrictions on indoor and outdoor capacity. in various sectors and the final demand for activities and services that have been reopened. Office supply companies were slow to recover, as were some aerospace and recreation emitters such as gymnasiums and movie theaters. Supply chain disruptions and inflation in labor and input costs have also been headwinds in some cases. Demand for chemicals, packaging and building materials was strong, but margins were negatively affected by higher resin and other input costs and / or higher container rates. Many issuers have been able to impose price increases to offset some or all of the higher costs, but with a lag. Issuers of consumer, retail and food products have also faced higher input costs and labor inflation, with varying capacities to pass price increases.

On the other hand, some issuers take advantage of it. Commodity issuers are clearly profiting from inflation, and loan prices increased the most in these sectors in 2021, although it should be noted that these sectors only represent 5% of the loan market. We are aware of the cyclical recoveries that could run out of steam for some sectors that had thrived during the pandemic. At the same time, we are looking for loan issuers whose business models are likely to benefit the most from the permanent changes in consumption patterns / behaviors and work habits in a post-COVID-19 world.

If we observe volatility due to supply chain issues and cost inflation, changing expectations about the timing of rate hikes, or potential macroeconomic challenges posed by the Omicron variant, on a selective basis we would consider these periods as buying opportunities, because we believe that business fundamentals are still healthy.

In general, we favor loans rated B, especially those with LIBOR floors. As the probability of an increase in prices and interest rates is higher than it has been in recent years, we maintain our opinion that industries whose fundamentals are questioned could be more affected. than others, especially those with a struggling supply chain. Amid the idiosyncratic risk of issuers, careful stock selection remains paramount, in our view.

Despite the potential headwinds that persistent inflationary pressures could bring, we continue to believe that supply chain disruptions and inflation can delay, but not derail, the full recovery. We also don’t expect a high probability of large-scale fundamental weakness in the lending market over the next year, particularly to such a degree that it overshadows important technical tailwinds for fixed income assets. variable. We maintain our positive outlook for the bank lending sector: over the next 12 months, technical conditions should remain strong and fundamentals broadly positive with moderate default rates, against a backdrop of rising interest rates.

What are the risks ?

All investments involve risk, including possible loss of capital. Bond prices generally move in the opposite direction of interest rates. Thus, as the prices of the bonds in an investment portfolio adjust to an increase in interest rates, the value of the portfolio may fall. Investments in lower rated bonds carry a higher risk of default and loss of principal. There are special risks associated with foreign investments, including currency fluctuations, economic instability and political developments. Investing in emerging markets involves increased risks associated with the same factors, in addition to those associated with the smaller size and less liquidity of these markets. Floating rate loans and debt securities tend to be rated below the investment grade. Investing in higher yielding variable rate loans and debt securities involves a higher risk of default, which could result in a loss of capital, a risk that may be heightened in a slowing economy. The interest received on variable rate loans varies according to the evolution of the interest rates in force. Therefore, although variable rate loans provide higher interest income when interest rates rise, they will also generate less income when interest rates fall. Changes in the financial strength of a bond issuer or in the credit rating of a bond can affect its value.

1. Sources: Franklin Templeton Fixed Income Research, JP Morgan. As of October 2021. There can be no assurance that an estimate, forecast or projection will materialize.

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Editor’s Note: The bullet points for this article were chosen by the editors of Seeking Alpha.


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Grants and loans still available for Capital Region businesses as pandemic recovery soldiers https://flight93.org/grants-and-loans-still-available-for-capital-region-businesses-as-pandemic-recovery-soldiers/ Fri, 07 Jan 2022 13:08:44 +0000 https://flight93.org/grants-and-loans-still-available-for-capital-region-businesses-as-pandemic-recovery-soldiers/ Businesses are still in a recovery mode as the pandemic rages on and cases of the coronavirus continue to surface every day. Blockages and some strict restrictions may exist in the past, but can be re-enacted if necessary, especially given the recent impact of the omicron variant. “Business is improving, things are better, but we […]]]>

Businesses are still in a recovery mode as the pandemic rages on and cases of the coronavirus continue to surface every day.

Blockages and some strict restrictions may exist in the past, but can be re-enacted if necessary, especially given the recent impact of the omicron variant.

“Business is improving, things are better, but we are still on our guard,” said Michael Lobsinger, director of the Capital Region Manufacturing Expansion Partnership at the Center for Economic Growth (CEG) .

Federal programs such as the Paycheque Protection Program came and went, but as companies try to regain pre-pandemic stability, some government and local help remains available.

Lobsinger said fewer companies have contacted CEG to apply for coronavirus grants, but they are still looking for money to help them implement safeguards and better processes for any event or shutdown at large scale that could reproduce.

Small business lenders such as Pursuit and My Community Loan Fund are go-to options, although there are other ways to channel the money.

Here are some of the loan and grant programs that businesses can turn to for additional financial support.


New York State COVID-19 Small Business Recovery Grant Program

This grant program is open to small or micro-businesses and for-profit cultural and artistic organizations with the option to provide between $ 5,000 and $ 50,000 in reimbursement of expenses accrued during the pandemic closure of March 2020 and April. 2021. To be eligible, companies must meet certain criteria and justify a need for shortfall, lower gross revenue and previous aid accepted between 2019 and 2020.

Capital region advancement fund

The fund is available to both for-profit and non-profit businesses in the Six County area. Eligible people can receive loans ranging from $ 25,000 to $ 500,000. Loans can range from two to 10 years and come with a fixed interest rate of 1.5% and the ability to defer principal payments for the first six months.

New York Global Grants Program

This specific grant program targets small and medium-sized businesses trying to become global entities and create new jobs. It is open to all nonprofit organizations and state enterprises wishing to create or increase global exports.

These export subsidies are provided on a “repayable basis” and recipients can obtain up to $ 25,000. Similar grants of up to $ 100,000 are available for nonprofit organizations that assist export operations and business education to state-owned enterprises.

Empire State Development urges applicants to speak to a representative for advice, as those who do not may experience a significant delay for review and approval.

CEG also promotes a list of financial aid opportunities available, in particular for manufacturers.

The Workforce Development Institute offers grants to companies that need additional staff training and can provide limited equipment funds.

National Grid’s Manufacturing Productivity Program and NYSEG’s Manufacturing Acceleration Program (MAP) are two productivity grants designed to help companies looking to grow or perform market analysis to optimize their space. . Lobsinger said grants can help cover around 40 to 60 percent of a project’s costs. Grants ultimately have a cap but can still provide a “significant amount of money,” he noted.

The Jeff Lawrence Innovation Fund administered by Fuzehub distributes a handful of grants of up to $ 50,000 to the award recipients each year. Round 1 grant applications are now being accepted.

Trade adjustment assistance grants are available for companies that have lost a large volume of business to foreign competition. The Trade Adjustment Assistance program aims to help companies regain a competitive advantage.


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China ZhengTong Auto Services: UPDATE INSIDE LEGAL PROCEEDINGS https://flight93.org/china-zhengtong-auto-services-update-inside-legal-proceedings/ Sat, 01 Jan 2022 16:07:02 +0000 https://flight93.org/china-zhengtong-auto-services-update-inside-legal-proceedings/ Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited assume no responsibility for the contents of this joint announcement, make no representations as to its accuracy or completeness, and expressly disclaim all liability for any loss resulting from or based on all or part of the content of this joint […]]]>

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited assume no responsibility for the contents of this joint announcement, make no representations as to its accuracy or completeness, and expressly disclaim all liability for any loss resulting from or based on all or part of the content of this joint announcement.

China ZhengTong Auto Services Holdings Limited

國 正 通 汽 車 服 務 控 股 有 限 公 司

(Incorporated under Cayman Islands Limited Liability Laws)

(Stock code: 1728)

SENIOR NOTES ISSUED IN THE UNITED STATES MATURING IN 2022

(Stock code: 40132)

INTERNAL INFORMATION

UPDATE ON COURT PROCEDURES

This announcement is made by China ZhengTong Auto Services Holdings Limited (the “Company”, together with its subsidiaries, the “Group”) in accordance with Rule 13.09 of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange Limited (the “Exchange”) (the “Listing Rules”) and the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the Company’s announcement dated December 22, 2021 (the ” Announcement ”) regarding (among others) legal proceedings (the ” Proceedings ”). Wuhan Zhengtong appealed against the judgment of the proceedings. Unless the context otherwise requires, terms used herein will have the same meaning as those defined in the Listing.

On the afternoon of December 28, 2021, the Company was informed that a court ruling for the Alternative Procedure had been issued in favor of the claimant and against (among others) Beijing Guangze, Beijing Zunbaocheng, Beijing Baoze and Wuhan. Zhengtong by the Yangzhou Intermediate People’s Search (法院).

In accordance with the first instance judgment for the other proceeding, Beijing Guangze will pay the plaintiff approximately 1.411 billion RMB (comprising loan principal, accrued interest, late interest and compound interest) and late interest calculated at 16 , 2% per annum of RMB1 0.35 billion, the actual amount of which will increase with time and corresponding costs. Wuhan Zhengtong, having entered into an undertaking in favor of the plaintiff in March 2016 and a shortfall agreement (協議) with the lender in March 2020 for the unpaid amounts owed by Beijing Guangze, was held jointly and severally liable for the same amount. The amount owed to the plaintiff is also secured on real estate owned by Beijing Zunbaocheng and Beijing Baoze. Beijing Zunbaocheng and Beijing Baoze have also been held jointly and severally liable for the above amount. The real estate also serves as collateral for amounts owed by Beijing Guangze to the claimant which are the subject of the proceedings, further details of which are set out in the announcement. Based on a review by Duming United Real Estate Appraisal (Beijing) Co., Ltd. (??) On March 4, 2020, the value of this security as of December 30, 2019 was approximately RMB 3.218 billion. It is not clear at this time if or when such security can be achieved.

The current board of directors of the Company is composed of directors appointed in September 2021 following the acquisition of 29.90% of the shares of the Company by Xiamen ITG Holding Group Co., Ltd. (??). The conclusion of the commitment in March 2016 and the deficit agreement and other documents in March 2020 (extension) may have constituted non-exempt financial assistance to one of the directors of the Company and / or his associates in the relevant time and, therefore, may have constituted the Company’s undisclosed related transactions at the relevant time. The Company’s current board of directors is investigating the completion of the Engagement and Shortfall Agreement and compliance with relevant compliance requirements under the Listing Rules at that time.

The first instance judgment for the other proceeding is not yet effective, and Wuhan Zhengtong intends to appeal the decision.

As the aforementioned procedure has not been definitively judged, there is considerable uncertainty. The Company will monitor legal proceedings and continue to assess the impact of the proceedings on the Group.

Shareholders and potential investors of the Company are urged to exercise caution when trading in the securities of the Company.

By order of the Council

China ZhengTong Auto Services Holdings Limited

WANG Ming Cheng

President

Hong Kong, December 31, 2021

As of the date of this announcement, the Board is composed of Mr. WANG Mingcheng (Chairman), Mr. WANG Muqing, Mr. Li Zhihuang and Mr. ZENG Tingyi as Executive Directors; and Dr. WONG Tin Yau, Kelvin, Dr. CAO Tong and Ms. WONG Tan Tan as independent non-executive directors.

Warning

China ZhengTong Auto Services Holdings Ltd. published this content on December 31, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 01 January 2022 04:06:00 PM UTC.

Public now 2022

All news on CHINA ZHENGTONG AUTO SERVICES HOLDINGS LIMITED

Sales 2021 18,470 million
2,908 million
2,908 million
Net income 2021 -896 million
-141 million
-141 million
Net debt 2021 13,393 million
2,108 million
2,108 million
PER 2021 ratio -2.06x
Yield 2021
Capitalization 1,946 million
306 million
306 million
VE / Sales 2021 0.83x
VE / Sales 2022 0.73x
Number of employees 7,740
Free float 49.5%

CHINA ZHENGTONG AUTO SERVICES HOLDINGS LIMITED Chart
Duration :

Period :

China ZhengTong Auto Services Holdings Limited technical analysis table |  MarketScreener

Technical Analysis Trends CHINA ZHENGTONG AUTO SERVICES HOLDINGS LIMITED

Short term Mid Road Long term
Tendencies Bearish Neutral Neutral

Evolution of the income statement

To sell

To buy

Average consensus HOLD
Number of analysts 5
Last closing price

0.71 CNY

Average price target

0.60 CNY

Spread / Average target -15.0%


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State subsidy to support schools | News, Sports, Jobs https://flight93.org/state-subsidy-to-support-schools-news-sports-jobs/ Wed, 29 Dec 2021 08:03:55 +0000 https://flight93.org/state-subsidy-to-support-schools-news-sports-jobs/ MARQUETTE – Governor Gretchen Whitmer announced on Tuesday that schools are recruiting and hiring 560 additional school psychologists, school social workers, school counselors and school nurses with funding from the Fiscal Year 2022 State School Aid Act. “The pandemic has reminded us that mental and physical health professionals in schools are not a luxury”, Whitmer […]]]>

MARQUETTE – Governor Gretchen Whitmer announced on Tuesday that schools are recruiting and hiring 560 additional school psychologists, school social workers, school counselors and school nurses with funding from the Fiscal Year 2022 State School Aid Act.

“The pandemic has reminded us that mental and physical health professionals in schools are not a luxury”, Whitmer said in a statement. “Healthy students – physically, mentally and socio-emotionally – learn better. Having trained professionals in school buildings helps our children get the support they need so they can thrive in the classroom and beyond.

Children need academic, social, emotional and physical support, both in and out of school, State Superintendent Michael F. Rice said in a statement.

“School communities across the state appreciate this essential budgetary investment for the new fiscal year 2022 negotiated between the governor and the state legislature,” Rice said. “This $ 240 million is the start of the academic support required for the mental health and physical needs of our children.

Tina Kerr, executive director of the Michigan Association of Superintendents and Administrators, said in a statement that the health and well-being of Michigan students continued to be a top priority for MASA and its members.

“Today more than ever, our students need access to these services, and there is no better place than in our schools to provide them” Kerr said. “We are very happy to see this important funding going to districts across the state so that they can hire the key staff needed to support our students.”

In the FY2022 budget, Whitmer and the Michigan legislature worked together to allocate $ 240 million to increase the number of school-based professionals to support students’ mental and physical health, the governor’s office said.

To date, 210 school districts have applied for a grant to hire 562 staff, including 60 school psychologists, 226 school social workers, 146 school counselors and 130 school nurses. The grants help districts hire staff and gradually move from fully funding positions with public funds in the first year to fully funding positions with local funds in the fourth year.

The application period is still open and all districts are eligible. Districts can view frequently asked questions and submit their applications by visiting Michigan.gov/MDE. Districts must hire staff by March 1 to qualify.

Nessel joins the coalition

Attorney General Dana Nessel announced on Monday that she had joined a coalition of 20 attorneys general urging the federal government to take action to help borrowers by addressing failures in implementing mortgage restructuring programs to secure that those most financially affected by the COVID-19 pandemic can pay off their mortgages. and stay at home.

During the pandemic, the Federal Housing Administration has helped needy borrowers stay in their homes by implementing break and no-pay programs, the attorney general’s office said. The agency has implemented COVID-19 recovery loss mitigation options to help borrowers who were unable to pay the cost of their mortgages before the pandemic as well as arrears accumulated during forbearance .

These programs aim to help families reduce their principal and interest so they have affordable monthly mortgage payments that allow for a sustained and stable financial recovery – especially for low-income households, new homeowners, and households of color. disproportionately affected by the pandemic, the attorney said the general’s office.

All FHA-insured loan lenders were required to implement these programs by October 21.

In a letter from District of Columbia Attorney General Karl A. Racine to the FHA, attorneys general specify that several mortgage loan officers employed and approved by the FHA have “Not implemented adequately” the FHA COVID-19 Recovery Modification, as well as other COVID-19 relief programs to support borrowers.

Letter Alleges Mortgage Services on FHA Insured Loans routinely send borrowers letters that do not include the COVID-19 recovery modification as an available option, require documentation, and impose unnecessary qualifications under FHA guidelines , and inform borrowers during customer service phone calls that this option does not exist.

He also says that as the US Treasury Department approves homeownership assistance fund distribution programs across the country, it is “critical” that the FHA ensure that agents notify borrowers and assess them for a loan modification.

“HAF should be a fund of last resort and should not replace maintenance workers’ obligations to assess owners for all loss mitigation options,” the letter reads.

The letter calls on the FHA to ensure that its approved mortgage departments and employees take the necessary steps to implement the FHA COVID-19 recovery amendment in its entirety.

“At a time when so many people face persistent financial hardship, we need to give the assurances provided to those in difficulty,” Nessel said in a statement. “I join my colleagues in urging our federal partners to verify the successful implementation of this vital program.”

LMAS adds cases

The Luce-Mackinac-Alger-Schoolcraft district health department reported in a Facebook post Monday that 65 cases of COVID-19 have been added in LMAS counties since December 22.

“Not much for a five day period, but more than expected over the Christmas holidays with little testing going on”, the post reads. “For now, put on a mask, get vaccinated / refilled (if you haven’t already) and stay home when you are sick.”

The health department reported that there were 666 cases in the four counties between December 1 and Monday, with 560 cases considered cured and nine deaths.

Christie Mastric can be reached at 906-228-2500, ext. 250. His email address is cbleck@miningjournal.net.

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Here Are 3 Ways To Pay Off Vacation Debt Quickly https://flight93.org/here-are-3-ways-to-pay-off-vacation-debt-quickly/ Mon, 27 Dec 2021 13:22:14 +0000 https://flight93.org/here-are-3-ways-to-pay-off-vacation-debt-quickly/ Americans are expected to spend more on the holidays this season than ever before. Here’s how to pay off debt. (iStock) Many Americans go out of their way during the holidays, and about 70% have even said they usually go over budget, according to the Affirm Consumer Spend Report. And ahead of the holiday season, […]]]>

Americans are expected to spend more on the holidays this season than ever before. Here’s how to pay off debt. (iStock)

Many Americans go out of their way during the holidays, and about 70% have even said they usually go over budget, according to the Affirm Consumer Spend Report. And ahead of the holiday season, the National Retail Federation (NRF) predicted holiday sales could hit an all-time high.

Holiday shopping sales in November and December could increase between 8.5% and 10.5% to a total of between $ 843.4 and $ 859 billion, according to the NRF. This is an increase from 8.2% in 2020, which was a record growth in vacation spending.

“There is tremendous momentum heading into the holiday shopping season,” NRF President and CEO Matthew Shay said at forecast time. “Consumers are in a very favorable position at the start of the final months of the year as incomes rise and household balance sheets have never been so strong. Retailers invest heavily in their supply chains and spend heavily to ensure they have products on their shelves. to meet this period of exceptional consumer demand. “

If you’ve overspended while on vacation, you might consider taking out a personal loan to help pay off or consolidate high-interest debt. Go to Credible to enter your information and find your personalized price without affecting your credit score.

70% OF AMERICANS EXCEED THE BUDGET DURING THE HOLIDAYS, A SURVEY FOUND: HOW TO REDUCE THE COSTS

How to pay off debt quickly

With the expected increase in vacation spending, it is important to find ways to pay off any debt that has accumulated over the season. And there are steps consumers can take to pay off creditors beyond making more than the minimum payment or using the debt snowball method. Here are some tips for quickly paying off your debts:

Use a personal loan

With interest rates at historically low levels, consumers can use a personal loan to pay off high interest credit card debt. This allows them to consolidate their debt into one loan and pay it off at a lower interest rate. They will also have an exact term for the debt repayment and will accumulate less interest over time.

But borrowers must be careful not to accumulate new credit card debt in the meantime, or they could find themselves in a worse financial situation than before. If you want to take out a personal loan, visit Credible to compare several lenders at once and choose the one that offers you the best interest rate.

ECONOMIC GROWTH SLOWS DOWN IN Q3 AT THE MOST SLOWING SINCE JUNE 2020: HERE’S HOW INTEREST RATES COULD BE AFFECTED

Take out mortgage refinancing with withdrawal

Home prices are rising to record highs, an increase of almost 20% every year in September, according to the latest Case-Shiller report. Homeowners can take advantage of this increase by taking out a cash refinance to pay off other high interest debts. With mortgage rates at historic lows, some homeowners can even reduce their monthly payments while taking money out of their home. Visit Credible to Compare Lenders and choose the best option for you.

Apply for a balance transfer credit card

Credit cards with balance transfer help users pay off debt by offering an introductory 0% APR for the first few months for any principal balance transferred. During this welcome period, borrowers can repay their debt without interest. However, any new balance accumulated on this card will always generate interest. You can visit Credible to compare multiple balance transfer cards from different credit card companies and see which one is right for you.

MBA ECONOMIST SAYS INFLATION IS NOT TRANSITIONAL: HERE’S WHAT IT MEANS FOR INTEREST RATES

Holiday spending is expected to increase this year, in part thanks to an 11-15% increase in online and other non-store sales, according to NRF forecasts. If you’ve spent more over the holiday season and are racking up debt, it’s important to have a debt repayment strategy in place. Visit Credible to speak to a credit expert and get all your questions answered.

Have a finance-related question, but you don’t know who to ask? Email the Credible Money Expert at moneyexpert@credible.com and your question could be answered by Credible in our Money Expert column.


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China – friend or foe of Sri Lanka https://flight93.org/china-friend-or-foe-of-sri-lanka/ Sat, 25 Dec 2021 20:07:40 +0000 https://flight93.org/china-friend-or-foe-of-sri-lanka/ A certain term has been used more frequently in recent times to describe the desperate dependence of some developing countries on large global lending institutions such as the World Bank, the IMF and others with similar portfolios. Even economically powerful nations such as China and some Western countries had been labeled the same after granting […]]]>

A certain term has been used more frequently in recent times to describe the desperate dependence of some developing countries on large global lending institutions such as the World Bank, the IMF and others with similar portfolios.

Even economically powerful nations such as China and some Western countries had been labeled the same after granting loan facilities to some developing countries.

International credit institutions and economic powers such as China, which facilitate loans to countries in need, are often accused of unleashing a deadly debt threat for those countries, although these countries only voluntarily accept such loans. financial – and not without having been asked for guarantees. . Loans are always given in exchange for the repayment of the loan principal plus interest. Some electronic and mainstream print media focus heavily on these loan portfolios, describing them as:

The debt trap?

The term “debt trap” refers to negativity. This supposes that one owes an enormous sum of money to various institutions with less and no plan to settle it one day. Or in economic terms – a situation where the debtor will not be able to repay the debt incurred. Taking a closer look at Sri Lanka’s bilateral economic ties with China, the following graph gives an overview of the scale of projects in which the two countries had been linked.

The two main Chinese-funded projects, Port City and Southern Express Way, alone consumed US $ 3 billion as loan or investment components, equivalent to nearly 4% of annual gross domestic product. Sri Lanka in 2020 with 81 billion US dollars.

Port City is owned by CHEC Port City Colombo (Pvt) Ltd, which is a 100% subsidiary of China Harbor Engineering Company (CHEC). PC will emerge as a whole new urban development combined with a financial city as a special economic zone and international financial center.

Both projects have a positive negative impact on Sri Lanka’s infrastructure and can place Sri Lanka in a favorable position as an international business center.

The land on which PC is built was virtually created on water by reclamation and again this part was also funded by the Chinese government.

Tourism, retail and leisure activities are estimated to generate up to 1.8 billion in direct economic value per year and provide 39,000 direct employment opportunities.

The indirect contribution of this sector is estimated at 850 million USD per year through local supply chains.

A detailed comparison of local / foreign employment quotas was researched by PWC in 2020 and details the stages of land reclamation, construction and operation as shown below.

Equally important are the benefits of the Southern Expressway.

Reduced travel time between Colombo and Mattala Airport, reduced congestion on the Colombo-Matara road with significant relief for the local community residing next to the old Colombo-Matara main road. Incentives for a new tourist development currently confined to the coastal belts and valuation of land and properties in the region.

Sri Lanka and China have enjoyed a close and cordial relationship for many decades, not only in economic sectors, but also on the global political agenda.

Sri Lanka was seen as a steadfast and reliable friend, not an enemy, especially at a time when the UN came together on issues related to alleged human rights violations in China. Sri Lanka’s support for China has always been welcomed by Chinese governments in the past and today.

(The author is a sociologist and an expert in the tourism sector)


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Amendments to the FMCHS bond issue adopted https://flight93.org/amendments-to-the-fmchs-bond-issue-adopted/ Sun, 19 Dec 2021 16:51:15 +0000 https://flight93.org/amendments-to-the-fmchs-bond-issue-adopted/ Father McGivney Catholic High School in Glen Carbon. Charles Bolinger GLEN CARBON – At its last trustees meeting in 2021, village trustees unanimously approved changes to a $ 6 million bond issue, which was the original primary income bond to build the school Father McGivney Catholic High School. Father McGivney and First Mid Bank and […]]]>

Father McGivney Catholic High School in Glen Carbon.

Charles Bolinger

GLEN CARBON – At its last trustees meeting in 2021, village trustees unanimously approved changes to a $ 6 million bond issue, which was the original primary income bond to build the school Father McGivney Catholic High School.

Father McGivney and First Mid Bank and Trust, who bought the bond, wanted to change some terms of the bond, including reducing the interest rate from 3.23 to 2.73% and extending the date. due from December 10, 2029 to December 10, 2031 These changes constitute a reissue of the bond for purposes of federal tax legislation; therefore, the village must approve the changes. In addition, the village is requested to re-designate the bond as a “qualifying tax exempt bond” under Section 265 (b) (3) of the Internal Revenue Code 1986, as amended. The village has the ability to designate up to $ 10 million of tax-exempt bonds as “qualifying tax-exempt bonds” each calendar year, but it has not done so in that calendar year.

In June 2014, the village initially issued its Income Bond, Series 2014, in the principal amount of $ 6,000,000, to provide funds to Father McGivney Catholic High School for the construction and equipment of a new high school. Father McGivney enlisted the help of the village so that they could finance the installation of the high school at a lower interest rate than they could otherwise get with conventional financing.

Municipalities have the ability to issue tax-exempt bonds for certain non-government purposes, including funding capital expenditures for 501 (c) (3) nonprofit corporations.

The village has loaned the bond proceeds to Father McGivney under a loan agreement and Father McGivney has promised to make sufficient payments to pay the principal and interest of the bond as they fall due. .

Father McGivney’s bonds are secured by a mortgage on the high school. The bond is payable only out of the income from payments made by Father McGivney under the loan agreement. No taxes or other village funds are compulsory. Thus, the village simply acts as an intermediary for financing. The bond was purchased by First Mid Bank and Trust (formerly Clover Leaf Bank).
The proceeds of the bond were used to pay the costs of acquiring, constructing, furnishing and equipping an approximately 52,800 square foot high school owned and operated by the borrower and located at 7122 Bouse Road in Glen Carbon.

The bond and interest thereon are limited obligations of the village payable only on payments and receipts from the village under a loan agreement between the village and the borrower and a mortgage and guarantee agreement. concerning certain property of the borrower. The bond and interest thereon do not constitute a debt of the Village or the State of Illinois and do not grant their owners any right to require the Village to collect taxes or to allocate funds for the payment of the debt. principal or interest.


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Investments :: Receipt of approval in principle – Issuance of S $ 1,200,000 convertible loan note https://flight93.org/investments-receipt-of-approval-in-principle-issuance-of-s-1200000-convertible-loan-note/ Tue, 14 Dec 2021 16:18:10 +0000 https://flight93.org/investments-receipt-of-approval-in-principle-issuance-of-s-1200000-convertible-loan-note/ JASPE LIMITED INVESTMENTS (Incorporated in the Republic of Singapore) (company registration number 198700983H) ISSUANCE OF A CONVERTIBLE LOAN NOTE OF A MAIN AMOUNT OF S $ 1.20 MILLION CONVERTIBLE INTO NEW ORDINARY SHARES IN THE CAPITAL OF JASPER INVESTMENTS LIMITED AT A CONVERSION PRICE OF S $ 0.00315 PER SHARE TO PROVIDE FINANCING WORKING CAPITAL […]]]>

JASPE LIMITED INVESTMENTS

(Incorporated in the Republic of Singapore)

(company registration number 198700983H)

ISSUANCE OF A CONVERTIBLE LOAN NOTE OF A MAIN AMOUNT OF S $ 1.20 MILLION CONVERTIBLE INTO NEW ORDINARY SHARES IN THE CAPITAL OF JASPER INVESTMENTS LIMITED AT A CONVERSION PRICE OF S $ 0.00315 PER SHARE TO PROVIDE FINANCING WORKING CAPITAL – RECEIPT OF APPROVAL IN PRINCIPLE

1. ORIGINS

  1. The board of directors (the “advice“or the”Directors“) of Jasper Investments Limited (the”Society“and with its subsidiaries, the”Group“) means the Company’s announcements of August 16, 2021, August 26, 2021 and November 14, 2021 (the”Previous announcements“) in connection with the proposed issuance of a convertible loan note to Rest Investments Ltd (the”Subscriber“) in a principal amount of S $ 1.20 million (the”Convertible loan note“) convertible into new ordinary shares (“Actions“) in the capital of the Company (the”Conversion actions“, and each, a”Conversion share“) at a conversion price of $ 0.00315 per Conversion Share.
  2. Unless otherwise defined, all capitalized terms used in this announcement will have the same meaning as assigned to them in previous announcements.

2. APPROVAL IN PRINCIPLE

  1. The Directors wish to announce that the Company obtained, on December 14, 2021, the approval in principle (the “AIP“) of SGX-ST with regard to the listing and listing of a maximum of 388,634,050 conversion shares (including up to 7,681,669 interest shares) on the SGX-ST main board , pursuant to the issuance of the convertible loan note in the principal amount of S $ 1.20 million convertible into up to 388,634,050 conversion shares (including up to 7,681,669 interest shares) at the price conversion rate of $ 0.00315 per conversion share, subject to compliance with SGX-ST listing requirements.
  2. AIP granted by the SGX-ST is subject to the following conditions:
    1. Announcement of the conditions under which the price of the conversion shares may be adjusted and the conditions under which the convertible loan note may be redeemed;
    2. A written commitment from the Company that it will comply with Listing Rule 803;
    3. Written confirmation from the Company that it will not issue the Convertible Loan Note and the Conversion Shares to persons prohibited under Rule 812 (1) of the Listing Manual;
    4. Written confirmation from the Company that the terms of the Convertible Debt Note comply with Listing Rule 829 (1);
    5. A written commitment from the Company to announce any adjustment made in accordance with Listing Rule 829 (1); and
    6. A written commitment by the Company that it will comply with Rule 704 (30) and Rule 1207 (20) of the Listing Manual with respect to the use of the proceeds of the proposed equity offering and when the proceeds are to be be used for working capital purposes, the Company will disclose a breakdown with specific details on the use of proceeds for working capital in the Company’s announcements on the use of proceeds and in the annual report;

1

  1. Please note that the SGX-ST’s AIP should not be taken as an indication of the merits of the conversion actions, the convertible loan note, the company and / or its subsidiaries.
  2. The Company wishes to inform the Shareholders who, contrary to the Previous Announcements, have decided to allot and issue the Conversion Shares in accordance with the share issuance mandate obtained at the annual general meeting of the Company held on October 30 2021 instead of calling a separate general meeting to obtain specific approval from Shareholders. Accordingly, no circular will be issued to shareholders in this regard.
  1. DIRECTORS ‘STATEMENT OF RESPONSIBILITY
    The Directors collectively and individually accept full responsibility for the accuracy of the information provided in this announcement and confirm after making all reasonable inquiries that, to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all important facts about the Convertible. Loan Note, the Company and its subsidiaries, and the Directors are not aware of any fact the omission of which would render a misrepresentation in this announcement. Where information in this advertisement has been extracted from published or otherwise publicly available sources or obtained from a named source, the directors’ sole responsibility has been to ensure that such information has been accurately and correctly extracted from such sources. and / or reproduced therein in its appropriate form and context.
  2. COMMERCIAL ATTENTION
    Shareholders are urged to exercise caution in dealing in their Shares. There is no certainty or assurance as of the date of this announcement that the proposed grant and issuance of the Convertible Loan Note and the Conversion Actions will be completed or that no changes will be made to their terms. Shareholders are invited to carefully read this announcement and any other announcement made by the Company. Shareholders should consult their brokers, bank managers, lawyers or other professional advisers if in any doubt as to what action they should take.

BY ORDER OF THE COUNCIL

JASPE LIMITED INVESTMENTS

Lai Wing Chong, Kenneth

Executive Director and Chief Executive Officer

December 14, 2021

2

Warning

Jasper Investments Limited published this content on December 15, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on December 14, 2021 04:17:03 PM UTC.

Public now 2021

All news on JASPER INVESTMENTS LIMITED

Sales 2021

Net income 2021 -0.43M
-0.32M
-0.32M
Net debt 2021 0.19 M
0.14 M
0.14 M
PER 2021 ratio -50.5x
Yield 2021
Capitalization 17.4 million
12.7 million
12.7 million
VE / Sales 2020
VE / Sales 2021
Number of employees
Free float 54.5%

Chart JASPER INVESTMENTS LIMITED
Duration :

Period :

Jasper Investments Limited Technical Analysis Chart |  MarketScreener

Technical analysis trends JASPER INVESTMENTS LIMITED

Short term Mid Road Long term
Tendencies Neutral Bearish Bearish

Evolution of the income statement


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What is the OTS Loan Repayment and EMI program? How to apply for the OTS program online? https://flight93.org/what-is-the-ots-loan-repayment-and-emi-program-how-to-apply-for-the-ots-program-online/ Sat, 11 Dec 2021 06:54:59 +0000 https://flight93.org/what-is-the-ots-loan-repayment-and-emi-program-how-to-apply-for-the-ots-program-online/ OTS payment Customers of non-performing assets (NPAs) of a bank can avail OTS services online at a bank. If the loan is not repaid to the bank, the customer’s credit rating will also be degraded. To avoid them, OTS is a useful opportunity for NPA borrowers. The OTS amount must be paid within 6 months […]]]>

OTS payment

Customers of non-performing assets (NPAs) of a bank can avail OTS services online at a bank. If the loan is not repaid to the bank, the customer’s credit rating will also be degraded. To avoid them, OTS is a useful opportunity for NPA borrowers.

The OTS amount must be paid within 6 months from the date of approval of the OTS, with 25% upfront and the balance within 6 months without any interest. If the money is paid within one year, interest at the base rate for the 6th month to one year will need to be paid. However, in exceptional cases, the OTS payment can be extended up to 2 years with interest.

Special OTS regime: GNP

Special OTS regime: GNP

The Punjab National Bank, in July 2021, introduced a special OTS program for its clients who could not repay the loan due to the pandemic, for the NPA account of Rs. 50,000, up to 5 crore. We can get a discount of 25 to 80%. The OTS amount range for NPA from Rs. 50 lakh to Rs. 5 crore, will depend on the secure and unsecured part. The scheme will remain in effect until March 31, 2022 and will cover NPA accounts from March 31, 2021. Agriculture accounts for over Rs. 10 lakhs will also be covered. For substandard student loan accounts eligible up to Rs. 7.50 lakhs, settlement at 70% of the outstanding balance; in addition, 85% of the account balance of all other qualifying substandard accounts will be settled. All other important information relating to the PNB OTS Scheme can be found here: https://www.pnbnet.org.in/OTSCF/

Earlier, in November 2020, the SBI introduced the OTS program “Rinn Samadhan 2020-21”, for NPA borrowers who could not repay the loan amounts. The bank said: “The OTS NPA and AUCA account recovery program is launched in the current fiscal year, to increase our NPA and AUCA recovery efforts for units with outstanding amounts over Rs. 20 Lakhs and up to Rs. 50 Crore and classified as D1, D2, D3, Loss or AUCA and AUCA Reversed Accounts as of 03.31.2020. “

How to apply for the OTS program online?

How to apply for the OTS program online?

To apply for the OTS program online, the NPA customer must ensure that their mobile phone number is registered with the bank for SMS banking services. This is important because the bank will send OTP to the registered mobile number. On the bank’s website there will be a different portal for OTS applications. On this page, the NPA borrower must fill in the applicant’s name, account number, country, email id, outstanding balance, OTS offer, captcha code, etc. After completing the page, another window will open asking for the OTS Application. You can also track the status of the OTS request online on the same page.

For example, Bank of Baroda and Punjab National Bank customers can apply for the OTS program here:

https://bobacs.bankofbaroda.co.in:8443/#/settlement

https://www.pnbnet.org.in/OTSCF/custEntry

However, NPA borrowers with export / import accounts will need to physically address the bank branch. The bank will accept or reject the proposal, depending on the collection policy and the bank guidelines issued.

Importance of OTS for the MSE sector

Importance of OTS for the MSE sector

The Single Regulation (OTS), a very old program noted by the RBI, is very important to the MSE sector in India, which is one of the largest employers in the country, and forms the backbone of the economy with the Agri sector. In accordance with the priority sector guidelines issued by the RBI, only micro and small business sectors can be included in the priority sector. MSE contribution to GDP, exports are significant, however, the sector remains under pressure. The pandemic emerged as another obstacle for the sector to shut down and interrupted income generation for about a year. Many MSE owners had taken out loans earlier, which they could not repay due to massive losses. So the OTS program for them was very helpful.

The South Indian Bank said in an official note: “In the case of loans to micro and small enterprises (MSE), officials are allowed to authorize the settlement even if there is no return or even with the write-off of part of the principal amount subject to their sanctioning powers NPA accounts in the MSE sector may be closed by OTS, the bank granting the borrower certain principal / interest concessions or both, provided that the account is closed within a specified time.

“The level of sacrifice to be authorized on an account must be considered after taking into account the history of the account, the nature of the default (voluntary or not), the value of the securities available, the borrower’s resources, etc. on a case-by-case basis, ”the bank added.

The OTS program made headlines again recently after Andhra Pradesh Chief Minister YS Jagan Mohan Reddy spoke out on the program and asked his officials to publicize the benefits of the program. housing loans. Reddy said his government would forgo housing loans taken out by the poor, amounting to Rs. 10,000 crore. Registrations will also be free.


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