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Advice Pool - What You Should Avoid in the Months Before a Home Purchase
Buying a home is a big step and there are some definite no-nos to avoid so that your home buying experience isn't something that makes you want to jump off the nearest bridge. While many people assume we
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
are talking about the 'shopping around and making an offer' period no-nos, we are actually referring to several months prior to your home buying experience.
1) First Off: Don't Blow Your Credit with Addi
1) First Off: Don't Blow Your Credit with Addi
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ional Debt
One of the integral decisions for any lending institution is a borrower's interest rate. This rate is decided upon based on your credit score, assets and financials, amount of down payment, as
One of the integral decisions for any lending institution is a borrower's interest rate. This rate is decided upon based on your credit score, assets and financials, amount of down payment, as
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
well as numerous other potential factors. Any major purchase that you make or expense that you incur (car, boat, wedding, electronic equipment, vacations, etc.) can affect the amount of debt that you are
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
carrying and can adversely affect your loan rate. (Since your loan rate can be with you for many years, it makes sense to really focus in on how to keep this as low as possible.)
A Note on Credit Card De
A Note on Credit Card De
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t: If you don't own a home, most of your debt will be from credit cards. The way a bank looks at credit card debt is as follows: they take your total credit limit on each card and assesss how much debt yo
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
u are carrying. As long as the debt on each card is less than 50% of the credit limit, a bank does not look unkindly upon it. However, once your debt exceeds 50% of your credit limit on each card, your cr
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
dit is adversely affected.
2) Keep Your Cash and Assets Where They Are
Before approving your loan, the lending institution will review your financials (bank statements -- both checking and savings, 401K
2) Keep Your Cash and Assets Where They Are
Before approving your loan, the lending institution will review your financials (bank statements -- both checking and savings, 401K
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
s, retirement accounts, Stocks, Bonds, Mutual Funds, certificates of deposit, etc.) to determine how a borrower is going to come up with their down payment and/or closing costs. Most lending institutions
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
equire 2 to 3 months of statements for any liquid assets that a borrower holds. This gives the lender a better idea of how much money the borrower has and insures that they have a good, stable history on
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
hese accounts.
One of the red flags that a lending institution looks for is an unusual amount of shuffling of funds between accounts in the months prior to a home purchase. The reason is that a borrower
One of the red flags that a lending institution looks for is an unusual amount of shuffling of funds between accounts in the months prior to a home purchase. The reason is that a borrower
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
may want to create the allusion that they have more assets than they really do by shuffling funds to generate strong financial statements for each of their accounts. Over a three month period, however, it
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
is very difficult to maintain the level of funds for all accounts by shuffling between accounts.
Many borrowers may be shuffling funds for completely innocuous reasons (a money manager left a fund, an ac
Many borrowers may be shuffling funds for completely innocuous reasons (a money manager left a fund, an ac
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
count is closed, etc.). In this case, most banks ask the borrower to show the lending institution the paper trail or deposits and withdrawals between the accounts to alleviate any concerns that they may h
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ve. This can be a frustrating experience -- cancelled checks, deposit receipts, and other seemingly inconsequential data tracking can get rather tedious.
It is a good idea to try and keep any shuffling o
It is a good idea to try and keep any shuffling o
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
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
funds between accounts to a minimum as it increases the chance for mistakes to be made or may look like you are trying to run from a difficult situation.
3) Switching Employment
In most cases, changing
3) Switching Employment
In most cases, changing
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
jobs will not adversely affect how a lending institution views your level of risk for a home loan. This is not the case if, for instance, you become self employed and cannot show a bank that you have a s
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
eady level of income. As long as your new job commands the same level of income that your previous one did, most lenders will see this as a wash -- if not an improvement.
The point to all of these recomm
The point to all of these recomm
.
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
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
endations is stability. Change opens borrowers up to silly mistakes among your accounts, the allusion of trying to hide certain financials, etc. This is the last thing that a lending institution wants to
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ee when they are trying to decide whether to loan money to a borrower. So, relax, don’t do anything drastic or out of the ordinary in the months preceding your home loan. Good luck and happy house hunting
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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