Actual - Real Estate

I get it. I have been there. You are dangerously behind in your mortgage payments and you can’t seem to catch up. You’re getting the letters and phone calls that lead

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

you to believe that you have no other option. Foreclosure seems eminent. That’s not necessarily the case.

The mortgage company doesn’t want to own your home anymore 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

han you want to lose it. In the current Real Estate market, (definitely here in the Denver Colorado area) it seems that this scenario is more common than believable. T

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

he home prices dropped; an A.R.M. (adjustable rate mortgage) adjusts to a higher rate; the new payment is now unaffordable; refinancing is out of the question because

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

f credit status changes; the owner finds that they owe more than they can realistically sell it for. What now? Walk away? Not a good idea. Without filing bankruptcy, t

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

Combination pro

he bank can still come after what is owed to them; even after they take AND sell the property. (and it’ll be a lot higher because of the cost of foreclosing on the pro

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

perty)

There are other ways. One of these ways is called a “short-sale”; it is a way for the bank and/or mortgage company to come to a feasible solution with you. A s

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

ort-sale is where the mortgage company agrees to take a certain percentage of the money that you owe and give you a letter releasing you from the remainder of the debt

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

. The short-sale could still affect your credit, but by now your credit could already be trashed due to the situation.

Most of the time the bank won’t even discuss a

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

short-sale with you until you are behind in your payments (3 months in some cases) I have seen the banks discuss short-sale prior to default, but it was only in very s

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

ecific situations.

Please understand, it is not an easy road to go with a short-sale. There is quite a bit of documentation and negotiation, but it is much easier tha

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

Following aspects would a

n the alternative. You probably won’t find out how much the bank will accept until you get an offer from a qualified buyer. It is best to find a Realtor that has exper

dd to the challenges in developing combination products:

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

ience in pre-foreclosure and short-sale. The Realtor can help guide you and in some cases help you to negotiate with the bank to make sure things go smoothly. The Real

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

tor will know the language being spoken by the bank, can help you to put together the documentation and help you to understand the process.

So, the first steps aside

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

rom finding a qualified real estate agent; call your mortgage company, (don’t avoid them, they won’t go away), find out their process for short sale (the Realtor will

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

help), get the house on the market, price it fairly according to the agents recommendations, keep the home in top quality condition (it will sell faster and possibly a

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

Professional from academic institutions, pharmaceutical industries, health care indust

t a higher price). Once the offer comes in, be prepared to wait. The mortgage companies are dealing with hundreds; even thousands of short sales and foreclosures. They

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

will get to yours, it may just take a little time (let your agent call and check on it), the buyers also have to be prepared to wait; your agent will make sure everyon

.

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

e knows the situation (within the terms of your agreement with the agent)

Don’t give up hope! It may take a couple of years to bring your credit score up; but compare

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

Companies that provide selfless information through particip

d to foreclosure, judgments, collections, bankruptcy and possibly attorneys, it will be much better for you in the long run. Hang in there! Find a good Realtor to help

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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