Actual - Real Estate

Warning: Do Not Refinance Your Home Until You Read This Report! 5 Costly Refinance Mistakes and How to Avoid Them

Mistake #1 –

Refinancing only to obt

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ain a lower interest rate So why are you refinancing your mortgage loan? Are you trying to save money through a lower monthly payment? Are you trying t

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

reduce your interest rate? Are you hoping to combine your refinance with a cash-out equity loan? If you’re simply trying to find a lower interest rat

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

, make sure you calculate the related fees and closing costs. These fees might make you rethink the process. Unless you can save enough money to easily

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

over these costs, refinancing may not be right for you.

Mistake #2 –

Cash-Out Refi to Pay off Unsecured Credit Card Debt Many people opt for what’s

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

alled a cash-out refi. This not only can save you money on your monthly mortgage payment, but can provide you with cash to pay off high-interest credit

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ards. We recommend that you review all of your options before choosing this path. Are you really desperate enough to get rid of your unsecured debt that

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

you would consider putting your home on the line? Review other options first, like calling your creditors and asking them to reduce your interest rates

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

nd save your home equity for a rainy day. Remember, you can always refinance without having to touch your home equity.

Mistake #3 –

Not Asking About P

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ints In their simplest form, Points are up-front mortgage interest fees paid on a loan to reduce the initial interest rate. Points are fees the borrow

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

r pays the lender at the time of loan closing. If you pay one point (1%) on a $100,000 loan, then you will pay the lender $1,000 at loan closing, but wi

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

l reduce your long-term interest rate, which will save you money throughout the life of your loan.

Some loan rates have points already built-in, so you

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

need to make sure the lender is very clear on how many points are being charged.

Mistake #4 –

Refinancing into an ARM or Interest-Only Loan In some

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ases, it makes sense to refinance into an Adjustable Rate or Interest-Only loan. But be aware of the ramifications. While you might refinance into an AR

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

and initially save money; over the years, your interest rate may creep up and end up eating-up the refinance savings. Interest-only loans are another

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

popular option, but they’re not right for everyone. Interest-only loans are actually only “interest-only” for a short period of time, like 5-10 years. T

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

is means that eventually, your payment will start to include principal again, and if you can’t afford to pay the principal at that time, you might be fo

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ced to refinance again! Always plan long-term...

Mistake #5 - All lenders are required by law to provide what is called a Good Faith Estimate of Clos

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ng Costs. Use this “Good Faith Estimate” as a tool to find the lowest price. You should ask any lender you speak with for a guarantee that clearly state

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

, in writing, that they have the lowest bottom-line closing cost. If they can’t provide you such a guarantee, in writing, you should find another lender

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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