The Lingo Berries

Challenge your word vocabulary and boggle your mind. Understanding the financial world of home ownership is much easier with a good mortgage consultant, who can guide you through the lending options.

Mortgage products are forever changing to provide more selection, more features and more confusion! Know the terminology and know what you are getting into, that’s the bottom line.

Residential mortgages comprise most of today’s mortgage business. There are many types of creative financing options for the homebuyer to consider. Additionally, there is a vast array of mortgage consultants with tremendous financing knowledge at their fingertips.

Familiarizing yourself with phrases such as “term of interest” and “life of your mortgage” is highly important if you wish to have a life after signing the paperwork for your mortgage.

The legwork to find the right home for your family is time consuming, fun and most often involves asking lots of questions to get exactly what you are looking for. Likewise comparison-shopping when looking for a mortgage is essential.

Attractive incentives are often offered, such as low interest rates, closing incentives, pre-approved packages, innovative refinancing options and leveraging untapped potential in your assets. Mortgage terms like fixed rate, adjustable rate, interest only mortgages are all specifically designed to meet the diverse needs of clients investing in home ownership.

Mortgage contingencies may appear fairly straightforward but can sometimes become quite stressful if the intent of the terms of the contingency are not clearly defined and understood. Making sure you understand the implications is the job of your mortgage consultant.

Ensure your mortgage consultant takes the time to review all the fine print on your contract so that you are fully aware what is covered and for what length of time. A trustworthy working relationship is one where no hidden fees or requirements surface after the contract is signed.

Home ownership is probably the biggest financial investment you will make in your lifetime. Take an interest in the interest. Be wise, thorough, get advice and don’t be shy about shopping around.

Leaftech
http://www.articlesbase.com/mortgage-articles/cut-your-way-through-the-mortgage-Jargon-120761.html

In this article we try to cut through some of the printing red tape and try to provide you with a better understanding of the jargon and the pitfalls, ensuring your expectations are more closely matched to the end product you will be receiving. The following points should be of help,

If you want a close colour match between colours on the designs you see on the computer monitor and the printed cards speak to the printer. Depending on the type of monitor you use and the colours involved, there could be a huge difference between how the colour looks on the monitor (RGB MODE) and how the printed colour (CMYK MODE) looks when printed from the printer or when printed using you home of office printer. Also the type of paper used affects how the printed colours look. If you want very close matches the best way to proceed is to send a paper copy of the card with colours on it to the printer. The printer can then try to find the closest matching CMYK colour. If the printer can’t find an appropriate CMYK colour code, he may recommend using another printing set of colours called Pantone (Spot) colours. Pantone colour printing is normally more expensive than CMYK colour printing, but the accuracy to colour match is also better.

The most common misunderstanding and pitfall between a customer and a company offering printed services, is when a customer requires his card details or logo to have beautiful and bright colours which they see on the monitor, yet the same colours look a lot duller on the printed business cards

they receive.

Why does this happen? Quite simply it is the physics of the situation as follows,

Monitor colours (RGB: Red-Green-Blue), the three basic colour elements -which together form a pixel- that every CRT monitor and colour television technology is using to compose all the colours that it is able to display. Basically, the luminosity of each colour element is adjusted to a value from 0 (so dark to be black) to 255 (as bright as the white), and the additive mixture of all three colour values together has the effect of producing a distinct colour, with values ranging within the RGB colour space. Now, how correctly and in accordance to its value is the colour displayed in your screen, has to do mainly with the quality of the monitor- plus other details like monitor colour profile etc.

The colours scheme used for printing (CMYK: Cyan-Magenta-Yellow– Black) are the basic colours which are combined to get the equivalent RGB colours: magenta+ yellow = red, magenta + cyan = blue and cyan + yellow = green.

However, these colours will not be as bright as the RGB colours that can be displayed on the screen. The reason is that CMYK works through light absorption: the colour you see on paper is the result of the visible spectre of light that’s left unabsorbed and reflected back to your eyes. On the contrary, RGB colours on monitor screens are exposing light, with the consequence that colours appear much more vibrant. And thus is the key reason why colours you see on the screen and when printed look different and sometimes substantially so.

Now as mentioned earlier, to get over these problems of physics, if you are concerned about close colour reproduction then speak to your printer.

Dpi (dots per inch) or resolution refers to the sharpness of your design. It does not matter how good the printers are, if your card design is not sharp enough then the printed card will not appear crisp and clear. Ideally for the best result, you are looking at having a design of at least 300dpi when created in actual printing size. As an example, a 300dpi artwork that needs 200% scale in order to print in actual size is not 300dpi but is 150dpi.

Thickness (gsm) of the card is reference to its weight. Ideally to have professional looking business cards the best paper weight to use is between 330 and 360gsm. Again you can use matt paper or gloss paper and use other finishing’s on the printed business card. Again different paper makes the final print appear different. Ask your printer for more advice.

Use lithographic printing or digital printing. The words lithographic or digital are simply references to the quality of the printing machines and the printing processes used to print the cards. Lithographic printing is an older method of printing and gives a very clear and crisp result. Digital printing is a newer method and depending on the quality of digital printers used, the results may vary. The best digital printers produce a printed quality as crisp and clear as the best lithographic printers, and better results than some of the older lithographic printers.

Improve your Sales, Business Cards, Leaflets

CME
http://www.articlesbase.com/business-articles/overcoming-printing-Jargon-to-get-a-quality-business-card-95190.html

Like most everything else, poker has its own language and terminology, and online poker has even more in-words that make sense only to those in the know. You can play poker without knowing what most of these terms actually mean. You can, but it helps if you know at least the basics. Aside from helping you to look like an experienced player, instead of a novice, it can also help if you do any reading about poker.

There is quite a large amount of poker terms, and it can seem quite daunting to a new player – almost like a foreign language! But you can break it down into easy to manage segments. Learn the basics first – there isn’t that much – and the rest will most likely naturally follow. Then get to grips with the abbreviations used at the poker tables in the chat box, and before you know it, you’ll be talking like a world champion poker pro.

First things first; the deal, the flop, the turn, the river. These are terms you really do need to know. The deal – every one in the game gets dealt two cards. The flop – the first three community cards dealt face up in the middle of the table. The turn is the next card, or fourth card, dealt, also face up in the middle of the table. And last, is the river. That is, you guessed it, the last community card dealt face up in the center of the table.

That’s not so complicated after all. They are really just ‘trade’ names for the cards that are dealt.

Next, the ‘blinds’. They are basically just bets. Why are they called ‘blinds’ then? Well, they are bets that you must make before seeing your cards, so they are ‘blind bets’. Small blind and big blind? The big blind is twice the size of the small blind, that’s all. Call, fold, raise? Ok, ‘call’ isn’t really obvious; it just means to match any bet made. To Fold simply means to ‘fold’ your hand, or choose to not continue playing that particular ‘hand’ or game. To Raise is obviously to increase the bet, or bet more. To check is to not bet

It might seem like a lot, but after very few hands most players have picked up the basics. Those few terms will be enough to know in order to sit and play a game of poker. Of course it gets more complicated than that. The thing is, you can sit at an online poker table and nobody else need know that you haven’t a clue what term means what. At an online poker table you can just point and click. It would help if you knew that clicking on the Fold button meant to ‘muck’ or ‘throw in’ your cards, but after doing that once or twice you’ll figure it out.

The tricky thing about online poker rooms is that the players do like to chat with each other – in the chat box – and lots of these players use abbreviations for the most common phrases in use. This can be really hard to pick up on, especially for players whose first language isn’t English. But you know what? If you don’t understand anything you can always ask. Ok it might give away the fact that you are a new player, but when you are a world champion professional player – you can still ask! Then they won’t know what hit ‘em!

Jared Sid Maher
http://www.articlesbase.com/online-gambling-articles/poker-terms-making-sense-of-poker-terminology-and-poker-chat-Jargon-101338.html

Real estate investing is a new, exciting, and wonderful adventure when you’re first getting started. For me, the new hasn’t worn off. I love real estate investing as much as I ever have. But, if there’s one thing I would have changed, it would be my knowledge of the terminology thrown around by more seasoned investors. If you’re tired of feeling like a dunce for having to look up the meaning of a real estate term every time you hear one, here’s a primer that should help get you up to speed.

Acceleration clause – a provision in a mortgage loan that allows the lender to demand immediate payment of the entire outstanding balance because of the violation of a loan provision, such as defaulting on the mortgage.

Addendum – an addition to a contract adding a provision that wasn’t in the original document. Once agreed to by both parties, the addendum then becomes a part of the original contract and is enforceable in court (assuming the provision is legal).

Appreciation – the increase in value of an asset.

Balloon payment – a required large final payment of a contract, frequently a large percentage of the original amount borrowed. Many times a contract will consist primarily of interest only payments for a period of time followed by a large payment that pays off the entire balance. For instance, someone might make interest only payments on a property for five years and then have to pay the entire balance off at the very end.

Cash flow – the amount of money left over on a monthly basis after paying all operating expenses on a property. This amount can be expressed as either a positive or a negative number. For example, if a property has total income of $1500 per month and expenses and debt service of $1000 per month, monthly cash flow on the property would be $500.

Closing – a meeting between the buyer and seller of a property where legal ownership is transferred. When this happens, there is typically a large stack of legal documents that needs to be signed by both parties. At this time, the seller receives certified funds as payment for their property, all closing costs are paid, and the buyer signs mortgage and other legal documents and receives a large stack of papers related to the purchase.

Closing costs – expenses that must be paid in order to legally transfer ownership of a property from the seller to the buyer.

Depreciation – a provision in the Internal Revenue Code that allows the owner of a property to take a tax reduction for the value lost through the year. One unique aspect of this provision is that the federal tax code allows a real estate investor to take a depreciation allowance on their tax return even though their property actually increased in value.

Due on Sale Clause – a provision in a mortgage contract requiring that the entire loan balance be paid immediately on demand in the event of the sale of a mortgaged property. Certain things can trigger the due on sale clause in the contract, such as the legal transfer (or equitable transfer) of ownership from the original loan borrower to another party.

Earnest money deposit – when someone places a written offer on a property, the seller will normally require that the buyer provide a small deposit (usually $500 or $1000) to prove to the seller that they are serious about making the purchase. These funds are normally placed into an escrow account by the real estate agent and will become the property of the seller in the event that the buyer fails to execute the contract as agreed.

Foreclosure – the legal process involved in repossessing a property, usually for nonpayment of a mortgage contract. There are two kinds of foreclosure: judicial and nonjudicial. Specific foreclosure laws vary from state to state, but in general the foreclosure process takes considerably longer in a judicial state because the lender must go to court and prove that the borrower has failed to make their payments as agreed. In a nonjudicial state, the process is much shorter and simpler because the lender is not required to receive court approval prior to forcing the removal of the borrower from the property.

GRM – also known as the Gross Rent Multiplier, which is a ratio you can use to estimate the value of an investment property. To figure the GRM, you need two pieces of information about the property: the sales price and the market rent rate. The way you figure the GRM is by taking the sales price and dividing by the monthly rent. For instance, pretend you have a property with a list price of $125,000 that would rent for $1600 per month. 125,000/1600=78. In this case the GRM would be 78.

Home Equity Loan – a type of loan where the owner of a property borrows money from a lender based upon the value of the property. Proceeds from a home-equity loan are typically used to make repairs to the property, pay off other debt, or to fund additional real estate investments.

HELOC – Home Equity Line of Credit is a type of loan where the borrower pledges the equity in their home as collateral. In exchange for receiving a HELOC loan, the homeowner usually receive a checkbook that they can use to access funds. While the homeowner is typically notified at the time that their loan is approved how much money they are qualified to receive, they don’t normally receive cash at that time. Instead, they use the checkbook to access HELOC funds, so they only pay interest on the portion of the loan that they are utilizing at any given time.

HUD-1 settlement statement – this form is also known generically as the closing statement. Put simply, it is nothing more than a detailed accounting sheet that discloses where every dollar of a real estate transaction is going. It lists things such as real estate commissions, mortgage broker fees, escrow amounts, etc. At the very bottom of the sheet it details the total amount of money paid by or on behalf of the buyer to the seller.

Lien – a type of encumbrance that can be placed on a property by a creditor that prevents the property’s sale without the payment of a legitimate debt. For instance, if a homeowner loses a lawsuit and is bordered by the court to pay the winning party a certain amount of money, many times the winning party will place an encumbrance upon their real estate to ensure that the judgment is paid.

LTV – a numeric value that can be used to determine how heavily leveraged a property is. If a borrower takes out a loan in the amount of $100,000 and the property is worth $125,000, the LTV is 80%.

NOI – the Net Operating Income of an investment property is the amount of money left over each month after making all debt payments and paying all operating expenses, such as insurance, maintenance, and repairs.

Owner financing – a method of financing where the seller acts as the bank and agrees to take payments for their equity over a period of time. This is a very common and creative real estate financing technique utilized by a lot of real estate investors who for one reason or another have decided to forgo institutional bank financing or the use of hard money lending sources.

PITI – an acronym that stands for principle, interest, taxes, and insurance.

ROI – an acronym that allows a real estate investor to determine their return on investment, which is expressed as a percentage. For instance, if you invest $100,000 and you receive $10,000 in annual returns, your ROI would be 10%.

Title insurance – an insurance policy that the purchaser of a real estate property can purchase to guarantee that there are no outstanding liens or other encumbrances that would affect the transfer of ownership from one party to another.

As you can clearly see from this list of real estate investing terminology, there is a huge vocabulary for you to learn as you begin to fully immerse yourself into the world of real estate investing. This is by no stretch of the imagination a full list. It is, however, enough of a starter list that you can feel a little more comfortable with getting up to speed. Your eyes won’t completely glaze over if you happen to overhear more experienced investors talking, and in many cases you can smugly smile – knowing that you’re a member of a select club of special entrepreneurs who have their own secret language. Plus, you won’t have to wear a special uniform or try to explain to people where the KLingon empire is located.

To learn even more of the Jargon used by real estate investors, navigate over to www.REIconferences.com and look around a site built by investors for investors. It’s packed with all the tips, tools, and information you need to turn the corner and reach all of your investing dreams.

Charrissa Cawley
http://www.articlesbase.com/real-estate-articles/real-estate-investor-jargon-every-newbie-should-know-671669.html

What if a suspect used slang or Jargon while the Officer was interviewing him? Would you place this in the report in quotations? Why or why not?

You would leave it in the report and place it in quotations along with clarification as to what he’s referring to when he starts using his slang/jargon, but dont just document it in your report, but try to follow up with a written voluntary statement.

You dont want to directly change anything hes saying into your own interpretation, make him clarify what hes talking about. That way it stays in his own words.