Answers - Real Estate

Getting a home loan is a bigger job than you might think… there is a lot to understand, especially for the first time borrower. Loan products, for example, encompass 30 year fixed rate, 15 year fixed rat

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

e, 7/1 and 5/1 ARM’s, Jumbo loans, FHA loans, interest only loans, negative amortization loans and others require serious study to fully understand the economic pros and cons of each offer. The money isn

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

Examples of combination products may in

’t free either… you have to understand rates and points and other financial terminology like MIP, escrow, amortization, APR, simple interest, compound interest, future value, present value, etc. Confused

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

yet?

This is one of the major problems facing first time home buyers who are often overwhelmed by the variety of loan products, terminology and endless documents of legally binding fine print. Even sea

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

oned borrowers may be set back due to the variety of "creative financing" options available today.

Especially troubling is the fact that home buyers tend to start to get their financing together either

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

Combination pro

during or toward the end of their house shopping experience which is asking a lot from anybody, considering they also have to learn about real estate terminology and concepts before making a purchase. In

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

other words, "it ain’t easy to do it and do it right" without making serious mistakes in the process. These mistakes can cost you hundreds, if not thousands of dollars in both the short term and long ru

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

without you even realizing you got screwed until after it is too late.

So how does one prevent being raked over the coals in a real estate deal, especially the home financing? The answer, without excep

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

tion, is to get knowledgeable about home financing and don’t agree to or sign legal documents you don’t understand. The bottom line is this: if you don’t fully and completely understand the home loan pro

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

duct you are borrowing, don’t sign anything.

One of the best ways to get educated is to get a HUD settlement booklet from the Housing And Urban Development HUD provides a TON of information to help you

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

nderstand many details of home buying and mortgage borrowing and covers predatory lending, home buying, home selling, ownership, and a boat load of other useful information to help you protect your legal

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

Following aspects would a

and financial interests.

You can also talk to your local bank and a couple mortgage companies to get information on home loan products. Loan officers work with these loans everyday and know them like t

dd to the challenges in developing combination products:

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

he back of their hand. The good mortgage lenders don’t mind taking the time to work with you because they might end up getting your business when you borrow a mortgage and they will spend time with you t

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

o get that business. In any case, make sure you talk to at least 3 mortgage lenders so that you can compare what you are being told from one to the other and take notes.

Avoid gimmick loans if you can a

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

d stick to traditional 30 year fixed rate deals, they tend to work best for most people. There is no benefit of a 15-year mortgage over a 30-year mortgage except that a 15-year fixed rate mortgage straps

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

a higher monthly payment on your back. Sure, you can pay the loan off quicker but if anything happens to your income, you are stuck with a high monthly payment. It is better, in my opinion, to take a 30

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

Professional from academic institutions, pharmaceutical industries, health care indust

-year fixed rate loan with a lower monthly payment and make one or two additional principal payments per year (write a letter with the payment telling the lender to apply it directly to principal). In th

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

s way, you can pay off the mortgage in 15-years and if, for some reason your income changes, you will be able to afford the lower monthly of the 30-year mortgage.

You want to avoid paying points for a l

.

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

ower interest rate too. In essence, when you pay points to a lender for a lower rate you are basically pre-paying the lender the interest in advance. Why pre-pay the interest on a 15 or 30-year mortgage

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

Companies that provide selfless information through particip

when you may only live in the property for 5 to 7 years, the national average? The key is to get smart before you do anything, right?

Best of luck!

Copyright © 2007 James W. Hart, IV,All Rights Reserve

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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