Essay on The Process of Obtaining a Home Mortgage

To begin this executive summary, we first look at the issue of research. In our semester project we are discussing the steps one would take in order to get a home mortgage. The reason we have chosen to do this project is to see how one goes about not only becoming approved for a loan but also how to service your mortgage and keep it up to par. The sources that we used in obtaining this information were sources that were able to help educate us on home mortgage and also help us further understand the entire process. The web-site www.mortgage-x.com was to me the most useful in our research. This site provided thousands of articles on the issue, a glossary and dictionary to help us in our search, and also provided a number of links†¦show more content†¦As soon as the closing of the mortgage is complete, the mortgage is put on the books at the financial institution and they begin to service the mortgage. In the mean time the borrower begins to make monthly payments to the financial institution to pay back the mortgage amount. The third and final main finding that we came across was the sale of the mortgage in the secondary market. The financial institution may sell the mortgage to another institution in the secondary market. The primary business of these secondary markets is servicing mortgages. Examples of these secondary markets are Fannie Mae and Freddie Mac. When servicing is sold the secondary market investor will begin to take your payments. If the financial institution intends to sell your mortgage they are required to give the borrower a mortgage service disclosure statement. The sale of the mortgage does not affect the terms of the mortgage at all. At this point the borrower will only deal with the secondary market institution. At this time we cannot really give a specific recommendation for action. The reason for this is the action one would take in getting a home mortgage would all depend on the size of the mortgage and whom they would want to deal with. Mainly, a person needs to find a financial institution that he/she is comfortable dealing with. Table of Contents 1) Introduction 1 2) Obtaining a Mortgage 1 A) Approaching theShow MoreRelatedBuying A Home Right Away798 Words   |  4 Pagesare looking to purchase a home right away or you will not be ready to buy one for several years, if you have not already started, now is time to start preparing financially to buy a home. To aid you in the process of preparing financially for your home purchase, we would like to offer five financial tips. Build Strong Credit It is important to know that your credit score will affect your mortgage rate. A low score will make it hard and sometimes impossible to buy a home. Checking your credit scoreRead MoreHome Loan Essay945 Words   |  4 Pages5 Steps - How to Pre-qualify for a Home Loan There is usually no best time to buy a new house. However, there might be wrong times, especially when the rates are on the higher side. The interest rate is one of the major components to be considered when buying a home. This is so as it determines the cost of the home. Therefore, it is not particularly advised that you wait for a period when the interest rates will be at their lowest. This is so as the factors that determine the interest rates are notRead MoreEssay On Buying A New Home806 Words   |  4 PagesFamilies who are getting ready to buy their first home are sure to be bombarded with advice on how to go about purchasing it. With so much advice, it may be hard to know exactly how to get started with financing a first home. Having a step-by-step guide can help first-time home buyers through this process. Types of mortgages It is essential for people who are ready to buy a home to have a basic understanding of the different types of mortgages. Depending on a family’s financial circumstances, thereRead MoreAnalysis Of The Dodd Frank Wall Street Reform And Consumer Protection Act844 Words   |  4 Pagesinterest rates went up and the value of homes stopped increasing at the extremely fast rate that they had in the past number of previous years, which caused many people to become behind on their mortgages or be foreclosed on. While interest rates were low and the value of homes was increasing drastically, many people decided to get second mortgages. One of the social issues that the Consumer Financial Protection Bureau policy is trying to address is regulating mortgage lenders. According to Slack (2012)Read MoreThe Crisis Of The New Millennium1418 Words   |  6 Pagescrippling recession in the mortgage/real estate field. This crushed the American economy as countless individuals lost their homes due to foreclosure as banks and other various lending institutions were forced to freeze their practices to ensure their survival. While this seemed to happen virtually overnight, there were several factors that served as signs and eventual learning points, providing insight into the cause of the crash. One of the contributing factors to the mortgage crisis of the new millenniumRead MoreEssay Business Negotiations 1648 Words   |  7 Pagesthat will be acceptable. Obtaining a desirable outcome from negotiations is the goal for parties with a direct or indirect interest in the issue receiving consideration. Negotiating a desirable outcome may be dependent on two major negotiating factors, communication, and personality. The methods of communication and personality of the negotiators are influences on the negotiation process and outcome. Gaining an understanding of communication in the negotiation process and an understanding of personalityRead MoreHousing Markets And The Housing Crisis804 Words   |  4 Pagesreal economy. Housing booms and bust are often reflections on the mortgage market, labor mobility and consumer spending. With interest rates near zero, at the moment, the real estate market has experienced a steady rise in new and existing home sales, prices and mortgages. Likewise, developments in the U.S. housing market have been instrumental to gains in home improvement spending. In 2015, home improvement retailers, Lowe’s and Home Depot have delivered better than expected results thanks to theRead MoreRole Of The Consumer Financial Protection Bureau1433 Words   |  6 Pagesduring their application for a mortgage, choosing among credit cards, or using any number of other consumer financial products. The mortgage market is the single largest market for the consumer of financial products and the services in the United States, with approximately $10.4 trillion in loans outstanding. Since last decade, market went through an unprecedented cycle of the expansion and the contraction that was fuelled in the part by securitization of mortgages and the creation of increasinglyRead MoreSales Process For Real Estate Transactions1522 Words   |  7 PagesSales Process for Real Estate Transaction The real estate agents have the duty and the responsibility to represent clients throughout the sales process. Agents plays significant roles such as managing lists of contacts, advising clients on mortgages, pricing and market conditions, guiding buyers and sellers through the transaction process, generating lists of appropriate properties for buyers, mediating negotiations between sellers and buyers among others. In this paper, we focus on the sales processRead MoreSubprime and Adjustable Mortgages1156 Words   |  5 PagesSometimes, when people buy a home for first time, they usually get subprime mortgage rates. Lenders grant these types of rates are to borrowers whom their credit history is not sufficient to get a typical mortgage. Sometimes, these borrowers have bad or even insufficient credit history. Subprime mortgages regularly offer loans that are interest only. These loans, that are â€Å"interest-only,† are easier for buyers to afford. When you get one of these l oans, the lender does not require you to pay any

Intermediate Accounting Free Essays

Deflation of consistency (vs.. Comparability) 2. We will write a custom essay sample on Intermediate Accounting or any similar topic only for you Order Now Relevance vs.. Faithful representation a. Investors want information right now 3. Calculate net assets 4. Adjusting entries related to Prepaid Insurance 5. Fundamental qualities of useful accounting information a. Chart In beginning chapters that has relevance, neutrality, etc. 6. Costs that are expensed vs.. Costs that are capitalized for Internally created Intangible assets a. What did we do with RD costs? 7. Calculate percentage and number of periods for quarterly compounding interest a. Time value of money . Straight-line depreciation a. For an asset that originally had a nine year useful life and decided later that it only had 5 year useful life. Change the depreciation expense 9. Under which cash flows statement category certain satellites fall a. Investing, Financing, or Operating? 10. Review the â€Å"Land† problem related to lump-sum purchases a. Look back at chapter with example about buying a huge tract of land, then land was divided, had to allocate cost of the land. B. Boxes are yellow 11. Calculate goodwill a. Purchase price – fair value market of the net assets 12. Calculate depletion . Like depreciation, except for natural resources 13. Ordinary annuity vs.. Annuity due a. Ordinary annuity happens at the end of a period b. Annuity due happens at the beginning of a period 14. Where should treasury stock be reported? A. On the balance sheet under stockholders equity 15. Bank reconciliation (compute the correct cash balance) 16. Compute ending balance In allowance for unconvertible accounts given the percentage of receivables method is used a. Calculate the ending balance in allowance for doubtful accounts 17. Diagram depiction of TV concept a. Chart is given b. Present value of an annuity due, present value of an ordinary annuity? 18. Revenue recognition – magazine subscriptions a. When do we recognize revenue? B. We recognize revenue when we earn it 19. Identify selling expense 20. Compute the floor when apply lower-of-cost-or-market 21 . Compute double-declining balance depreciation expense 22. Impairment of machinery 23. Land vs.. Land Improvements receivable gross method (vs.. Net method) 26. Compute annual insurance expense given premiums paid and prepaid insurance beginning and ending balances 27. Yield from various compounding interest approaches (yearly vs.. Monthly vs.. Weekly) 28. On what type of intangible is recoverability test used? 29. Events that have no effect on net income 30. Capitalization vs.. Expense of expenditures related to a machine 31 . Ingredients of relevance 32. Major distinction between FAST and APP 33. Entry to write off unconvertible accounts using the allowance method 34. Journal entry related to unea rned revenue 35. What is consigned inventory 36. Accounting for goods in transit purchased f. O. B destination/f. O. B shipping point 37. Compute PEPS 38. Common stock issued to buy machine – how does this affect statement of cash lows 39. Why use accrual accounting? 40. Publicly traded companies submit financial statements to whom? 41 . Compute net realizable value 42. What principle is violated when a company switches inventory valuation methods from year to year? 43. Characteristics of a perpetual inventory system 44. Capitalized costs of self-constructed assets 45. Compute net accounts receivable 46. Identify cash and cash equivalents 47. Primary users of general-purpose financial statements 48. Characteristics of plant assets 49. Examples of downward earnings management 50. Calculate goodwill How to cite Intermediate Accounting, Papers

Mental Health Problems.Of John Gray Samples †MyAssignmenthelp.com

Question: Discuss about the Mental Health Problems.Of John Gray. Answer: Introduction The report deals with the case study of John Gray who is suffering from mental health problems. It discusses the management of the patient focusing on the delivery of nursing care, using the Levett-Jones clinical reasoning cycle. It is the framework for clinical decision-making that assists in planning and evaluating the person-centered care. In this report, patient details and health information will be collected and processed. The primary health issues concerning Mr. John will be identified and treatment goals will be established prioritizing the health problems. It will be helpful in providing holistic care to the patient. Patient details Mr. John Gray is a single, 28-year-old male and lives in Brisbane. He is a son of a grazier and is expected to take over the family farm. The farm being affected due to longstanding drought caused severe depression in John, and he attempted suicide several times till he was finally admitted to the hospital a week ago. Patient information The information obtained in relation Johns condition includes severe depression, signs of withdrawal and disorientation. He skipped his breakfast and was reluctant to have lunch as well. He returned to bed almost empty stomach. Assessment of Johns vital signs showed blood pressure 125/75. His pulse rate and respiration rate were found to be 66 and 18 respectively. John has no serious injuries except some bruising and broken skin on his arms and legs and a rope burn mark around his neck which was a consequence of his attempt to commit suicide. John was prescribed to take Venlafaxine 75mg BD, Multivit I and Vitamin B Co I daily. Processing information I have communicated with John and his family to collect more accurate assessment information, to identify the risk factors and determine the level of risk of suicide. It will assist in gaining a broader perspective of patients condition. Severe depression destroys an individuals behavior and thought (McElroy et al., 2014). When a person fails to cope up with an overwhelming life situation or crisis, it leads to frustration and depression. The depression makes the person feel that suicide is an ultimate solution to stop the pain and agony. It severely affects mental and physical state, and a person develops low self-confidence and self-esteem. Depression is a mental illness that causes people to lose interest in life resulting in intentional self-harm such as punching the body, scratching skin or cutting wrists (Townsend, 2014). People punish themselves due to guilt and feeling of shame (Stuart, 2014). Johns vital statistics are normal. However, John as the result of his depression is not engaging in any social activity. Identification of issues After the completion of information collection, assessment, and its processing I have given the responsibility to identify the primary issues concerning John. As per my understanding, John is highly worried about his future as he is expected from his family members to take the responsibility of the family farm which is affected due to longstanding drought. He may have become anxious thinking that he might fail to fulfill his responsibility. He is too stressed thinking that how he will revive his farm after the drought (Kutney-Lee Aiken, 2015). Caplan, (2013) demonstrated that depression is caused by personal criticism and low self-esteem and leads to decreased social participation. According to Seo et al., (2015) feeling of worthlessness significantly increases depression. This, in turn, impairs concentration and leads to indecisiveness which is evident in John's self-harm behavior. It is evident in John withdrawal from communication and social engagement that he has lost the intere st and hope in life. Thus, it is important to maintain patient safety by minimizing self-harm, safe medication to increase positive outcomes. Establishing goals After John's treatment was commenced, a set of goals care of patients were created which include- To modifying the risk factors to assist the patient in preventing suicide and enhancing coping skills Assess the patient's capability to minimize or accelerate risk Assessment of the environment to identify and reduce any hazard at the personal and the unit level such as belt, knife, ligature point, and any other object that may be the source of self-harm for John (Klainin-Yobas et al., 2012) Monitor the level of use of preventive measures and patients adherence to medication Monitor his mental status on a timely basis Improve his emotional and physical well-being to control depression and reduce anxiety Determine any improvement after using medication Develop an evidence-basednursing intervention plan by collaborating with the patient, family and interprofessional team mainly focusing on Johns safety (Videbeck, 2013) Nursing care of the person Establish a therapeutic relationship with the client - Adams Iseler, (2014) demonstrated that building the strong rapport with client help to gain more information about him. It will enhance Johns verbal expression. Provide a person-centered care- Forbes Watt, (2015) demonstrated that when a patient receives empathy and understanding he feel important and sense of connectedness. It fosters positive psychological balance in patients To modifying the risk factors to assist the patient to prevent suicide such as keeping him in the positive atmosphere and avoid any depressing information related to his farm. Providing John with positive atmosphere will promote help-seeking skills in him and decrease self-harm behaviors (Happell Gaskin 2013) Family involvement- Engaging John parents in intervention and decision making will reinforce his self-esteem by making him feel important Motivate patient to enhance the use of preventive measures and strictly adhere to medication- Strict adherence to medicines will help John in easy recovery both mentally and physically (Robson et al., 2013). Motivation helps in instilling positivity and increase courage to overcome fear and worthlessness Engage John in physical activity - According to Storm Edwards, (2013), depression can be minimized to a great extent through intense exercise and physical activity such as swimming, walking, jogging, whichever enhances mood. It also allows promoting social connectedness Providing health education and training to help a patient understand the consequences of enhanced depression. Seo et al., (2015) Believes that health literacy is essential in decreasing adverse health outcomes. John will be informed about side effects of the medicine such as dizziness and fatigue Medication- John is prescribed a smaller quantity of Venlafaxine for two weeks supplied with multivitamins and is monitored for mood change. He will be provided with good skin care regimen to decrease the chance of skin infection. Regular checkup of vital signs, weight, heart and kidney function will eliminate future risks (Kutney-Lee Aiken, 2015) Referral services- referring John to counseling sessions will help him and his family to cope up with drought-related worries. Additionally, they can be referred to drought relief campaigns which would (Caplan, 2013) Evaluation of outcomes After two weeks there was a mild change in Mr. Grays behavior. He was taking his meals regularly and was engaged in reading flyers provided earlier. He was more interactive with people than earlier. His attitude towards health was changing in a positive way. He showed compliance to his medication and participated in physical activity. He was responsive to any questions asked. It can be concluded from this positive change in Mr. Gray that if the above care plan is continued then, John will decrease his vulnerability and social alienation and prevent suicidal tendencies. Reflection on the process By dealing the case of John I have learned that developing effective communication skills is essential. John felt a sense of importance and being understood when information was conveyed to him effectively. The fundamental aspect of the mental health care is the establishment of interpersonal relations and interactions between the care providers and clients. I also realized the importance of demonstrating self-awareness. It helped me in finding out the best way to approach and interact with John. It is highly required to obtain information from patients with high psychological distress and develop the effective treatment plan. By developing a therapeutic relationship with John the assessment process became easy and it led to a smooth establishment of goals. Patient-centered care is central to dealing with mentally depressed patients. It helped me in understanding Johns thinking, reasoning style, and the cause of the depression. This, in turn, fostered a sense of control over his symp toms. It seemed to facilitate patients beliefs in own abilities. Up-skilling is necessary for mental health nurses to strengthen their professional skills and lead to more effective patient outcomes. A positive psychological balance was reinforced in John when he received understanding, support, and empathy. As I involved Johns family in the treatment process, it helped in decision-making and encouraged his recovery. I now understand that when a patient feels that their respect and dignity is maintained it allows them to be open and increase their verbal expression which improves the overall treatment. References Adams, K. L., Iseler, J. I. (2014). The relationship of bedside nurses' emotional intelligence with quality of care.Journal ofnursing care quality,29(2), 174-181. Caplan, G. (2013).An approach to community mental health(Vol. 3). Routledge. Curtis, J. R., Back, A. L., Ford, D. W., Downey, L., Shannon, S. E., Doorenbos, A. Z., ... Arnold, R. W. (2013). Effect of communication skills training for residents and nurse practitioners on quality of communication with patients with serious illness: a randomized trial.Jama,310(21), 2271-2281. Forbes, H., Watt, E. (2015).Jarvis's Physical Examination and Health Assessment. Elsevier Health Sciences. Happell, B., Gaskin, C. J. (2013). The attitudes of undergraduate nursing students towards mental health nursing: A systematic review.Journal of Clinical Nursing,22(1-2), 148-158. Klainin-Yobas, P., Cho, M. A. A., Creedy, D. (2012). Efficacy of mindfulness-based interventions on depressive symptoms among people with mental disorders: a meta-analysis.International journal of nursing studies,49(1), 109-121. Kutney-Lee, A., Aiken, L. H. (2015). Effect of nurse staffing and education on the outcomes of surgical patients with comorbid serious mental illness.Psychiatric Services. McElroy, S. L. (2014). Prescribing antidepressants for bipolar depression: what does the evidence say?.The Journal of clinical psychiatry,75(9), 24-24. Robson, D., Haddad, M., Gray, R., Gournay, K. (2013). Mental health nursing and physical health care: A cross?sectional study of nurses' attitudes, practice, and perceived training needs for the physical health care of people with severe mental illness.International Journal of Mental Health Nursing,22(5), 409-417. Seo, M., Kang, H. S., Lee, Y. J., Chae, S. M. (2015). Narrative therapy with an emotional approach for people with depression: Improved symptom and cognitive?emotional outcomes.Journal of psychiatric and mental health nursing,22(6), 379-389. Storm, M., Edwards, A. (2013). Models of user involvement in the mental health context: intentions and implementation challenges.Psychiatric Quarterly,84(3), 313-327. Stuart, G. W. (2014).Principles and practice of psychiatric nursing. Elsevier Health Sciences. Townsend, M. C. (2014).Psychiatric mental health nursing: Concepts of care in evidence-based practice. FA Davis. Videbeck, S. (2013).Psychiatric-mental health nursing. Lippincott Williams Wilkins.