May 28, 2010

Thank you for calling card services….

"Thank you for calling card services….." Well, how many times you hear this hackneyed welcome note when you call your credit card issuer customer services. I am sure you hear it many times. Don’t they at times irritate you when you are in dire need of card services help in the proper manner? Anyway, it is the custom to greet a customer. Now, when you call, after wading through a lot of IVR messages, you finally reach a live customer service representative (CSR) who is there to help you with respect to your credit card queries.

                                          card services

Reaching a card services agent, you confront a flurry of verification questionnaire. They ask you to give your account number, the last four digit of your SSN, your mother’s maiden name and the like. Now, why are they required? These days, with loads of counterfeit and swindle report, it is mandatory to pass the verification process to enter any account. Now how safe is to part with your important finance information? Let me tell you that it is completely safe to give your personal date to the CSR such as your SSN, your checking account number and so, as the agents are not allowed to keep any pen or paper with them when they attend calls. They are not at all permitted to keep any record of any customer no matter how bad the customer talks to the agent.

Now, when you call, you need to be specific with you call purpose. This way, you can save your time and that of the agent’s. And, there is also more chance of your issue being resolved. I said 'more' because, when a customer nags and prolongs a call, it irritates the agents, though they are not supposed to. However, thinking practically, you need to hit the button as soon as you call. Remember, most of the customer care jobs are outsourced to the sub-continent countries where the profit comes per call. So, they always tend to remain in a hurry to finish the call and take the next one. If you prolong a call, you might lose the subject matter and end up with no resolution at hand. You are at times harassed with the calls put on hold. It really pinches.

Therefore, better ask your question specifically and guide the agent to give you the proper answer. Avoid asking roundabout questions like, why your pending balance is so high, when will you get the credit line increase (repeatedly), can you please charge off all of my over limit and late fees, why are my credit privileges revoked , can they be reinstated, can you call my hubby/wife regarding my card and so on. They are typical questions and are based more on emotional front than on logic. Keep in mind that the agents do not have any authority to do anything with your account. They cannot charge off all of your fees, at best only one or two fees, that too as per the company rules. So, you need to be aware of the agreement which you signed when you applied for the card. The CSR will only put the cliché note ‘Sorry, we are unable to assist you in this matter. You do not pass the necessary parameters to have such and such privileges. They will never say that they do not have the authority; instead, they will impose it on your poor credit usages. Be wiser and smarter. Good luck.
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May 22, 2010

Where does the unemployment scenario stand in the USA now? How can it be tackled?

Well, they say the nightmarish recession is over now and we can breathe a sigh of relief. But, do you really think so? Is it completely rooted out? I cannot agree on this. In fact, it seems that the worst recession period is over and the economy has started growing once again. It is good though. Anyway, looking at the current employment scenario in the US, it cannot be said that the recession hangover is completely over.
                                     unemployment in the usa
The unemployment in the USA issue has not been sorted out properly since the infamous recession saga. The USA is going through the downturn for a long time and it has adversely affected the job market in the large scale. Hence, the opportunities for jobs are getting few and far between. If statistics are followed, over 1.70 million Americans are without any jobs at this time. Oops! That is whopping and it really hurts, doesn’t it?

People are being laid off for not-so-accentuating reasons. The performance scale has gone a few notches up, in fact many notches up. The lesser the performance, the earlier you can get your pink slip. This scenario is just exacerbating and some of us have started panicking. This is just no way health for American economy.

The prime root for such grave scenario is that a lot of companies are closing their business in the wake of the recession. A huge number of companies are going through losses. This has circuitously led to poor management.
                                 unemployment in the usa
A nation cannot run with many of her citizens being unemployed. For that, a sincere govt. must take some steps to overcome this passive situation. The overall economic infrastructure must be modified and upgraded to accommodate job vacancies. The MNCs, which are currently in the USA, need to expand their business so as to create more jobs. The govt. should take some control of some companies currently operating independently. New economic boost up packages should be implemented. New labor rule should also come in effect where an employee is not just thrown out of a company because of his/her minimal poor performance. Work culture and the working can also be enhanced so that more work is done. This will ultimately return more revenue for the respective company and help the economic growth and hence, the employment growth. The unemployment in the USA will be over following some stringent and calculated measures.
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May 13, 2010

Significance of Commercial Mortgages in 2010

For most people who were involved in the real estate business in 2009, it was a year for them to remember. The year gave record number of foreclosures, a total wearing down of equity, the gradual downfall of the banking institutions , and job losses beyond all imagination. 2009 also introduced lexicon of real estate, like 'extend and pretend'. Short sales have infiltrated the lives of the housewives of Orange Country.

                         commercial mortgages

Yet we perceive that there will be substantial growth in business-to-business litigation in 2010. Surveys were done throughout the year 2009 and it was found that there would be heavier caseloads in 2010 or remain almost the same. A big chunk of growth in litigation will be seen in such areas where typically pick up when times get tough. As the economy goes down, litigation goes up in areas like bankruptcy, contracts and employment. A commercial mortgage security (CMS) has jumped 85 basis points by the end of November 2009. So what we are seeing ahead is a recipe for disaster in the commercial real estate market in 2010.

According to government officials, the US has about $300 billion in negative equity overhand what will need to be refinanced in the next two years. The numbers will increase to approximate $2 trillion or more in commercial mortgages as people will be failing to refinance their commercial loans. They are expected to come due for payment within the next five years. Commercial foreclosures will be at a high in the coming days. Banks will not agree to do commercial mortgage refinancing readily. So be careful if you are a business owner and seeking help for a commercial loan workout or commercial loan modification.

The commercial mortgage loans rate has recently hiked from 4.8 percent to 5.65 percent in the month of November last year. This will be rising more in the long run of this year and also into 2011. This could possibly bring advantage for investors in commercial mortgages. Lenders can acquire properties that only a few years back would not have considered. Almost all types of commercial properties are viable for acquisition and joint ventures at bargain prices. Such properties will be available through connections of lenders dealing with hard money loans or commercial mortgages.

                                       commercial mortgage
2010 may be a disruptive year, but surely one of action in real estate business. I personally expect that buyers and sellers will begin to collide in the coming months. If you are a home buyer, there should be incentives which will worth much if you jump now into the market. With low interest rates and tax credits one should offset any drops in the value over the coming months. But be cautious if you plan to flip properties frequently. Therefore go out and commence uncovering the property right now before the storm clears and the prices move upwards in the next few months.
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May 5, 2010

Equity Release Guide Helps You to Know the In and Out of Equity Release Plan

equity release
The concept of Equity Release is very old and it has been passing on from generation to generation. Equity means the total value of your house with out any mortgage rates. And equity release is a term which means to release the amount of money that you had piled up for your house throughout your life. The home owners above a certain age can apply for equity release. With the help of Equity Release you can gain a lump sum amount of tax free money which you can use to meet the requirements of your daily life. The money you get from an Equity Release can be used in any ground, such as going for vacations with family, clearing out old debts, family help, home improvements, health improvements, medical needs, daily expenses and many more. Since Equity Release process prevails among the aged persons, it most advantageous benefit of Equity Release is that they do not have to move out of the house. But only if they wish to settle somewhere else they can do that. Here is a small Equity Release Guide which will help you to know the ins and outs of the Equity Release system.

Equity releaseThe Equity Release Guide helps to apparently overcome the hardships of old age. Who are actually eligible for Equity Release? The aged persons who have crossed fifty-five are eligible for Equity Release with lifetime mortgage plan and above sixty-five are eligible for Equity Release with home revision plans. The owner of the home planned for equity release should have no mortgages or a small one. The amount of money paid by the buyer of the house can pay the total money in cash at one time or in installments. This deal is done in between the old owner of the house and the new buyer of the house.
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