Actual - Real Estate

Whilst watching the news on a local Phoenix TV Station recently, I came across a human interest story about a couple who were in danger of losing their Phoenix home a

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

s they could not afford the payments. In this case, the homeowners had an interest rate of 9%, we will get to that later, and the mortgage broker who had arranged th

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

Examples of combination products may in

loan in the first place had told them that would refinance after a few months in order to get lower monthly payments.

Firstly, they did not have great credit, plus

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

they had no down-payment, hence the aforementioned interest rate. Also, given those circumstances, they were gambling that home prices in the Valley of the Sun would

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

go up, of course they didn’t, which would enable them to refinance with a better loan-to-value ratio, they couldn’t. The fact is, they could not really afford the pa

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

Combination pro

ments in the first place, and were using their meager savings to supplement them until re-financing. It was a house of cards, and it all came tumbling down. Yes, it

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

is sad, but also quite predictable. If you are paying 9% in a 6% world something is not right. If you cannot afford the initial payments don’t take the loan. Do n

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

t take an adjustable rate loan with a low teaser start rate if you know you will not be able to afford the payments when the honeymoon period is over. Do not gamble

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

hat your home will increase in value in the next 6-12 months. You don’t know! Nobody knows. Some, but not all, lenders are quite willing, and ethically-challenged

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

enough, to tell you anything you want to hear, in order to get you to sign on the dotted line. This is not an Arizona specific problem, it could happen anywhere.

T

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

e second case involved a gentleman in California who re-financed his home in order to finance his home-based used car business. The lender failed to supply, as requi

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

Following aspects would a

ed by California law, the loan documents translated into the language used predominantly in the negotiation. The borrower claimed he was duped, however he did admit

dd to the challenges in developing combination products:

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

an English speaking friend had read and translated the terms of the loan to him. Now he could not afford the payments and was looking to lay off the blame. In this

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

ase, I know for a fact that in order to be a car dealer in California, you must (amongst other requirements) have a storage facility for at least four cars, not
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
at your residence. It must be completely separate. My point is, in this case, the borrower was quite willing, and ably abetted by the lender, to circumvent the rul
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
es while it suited his agenda. When he could not make the payments, he cried foul.

In both these cases, the borrowers played a little loose with the rules, or ignor
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
d early warning signs in pursuit of their goals. The will both certainly pay a price in the future because of bad credit, late payments and maybe even foreclosures.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Studies have shown that many times ethnic minorities end up paying more for their home loans than other folks. What the P.C. police do not tell you is that in most o
.

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
f those cases the victims were taken advantage of by people of the same ethnicity, that is to say unscrupulous people taking advantage of their own. In the end we ar
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
responsible for our actions, but remember everything must be in writing. If the broker “said”, then have him put it in writing. If he won’t, well you know the rest

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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