Answers - Real Estate

It’s Your Life

If you plan to purchase a home in the near future, or if you are planning to refinance your current mortgage, you should understand the importance of the decision that you are about to make. T

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

he word mortgage is derived from two French words. The first word MORT means death, and the second word GAGE means pledge. Together they mean, in effect, that you are about to enter into a death pledge. This sounds

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

Examples of combination products may in

a bit grim and may overstate the gravity of the commitment that you are about to make, but no matter how you look at it a mortgage is a serious commitment that deserves your attention.

Pre-Qualification Makes Se

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

nse

I have been a Florida mortgage broker since 1989 and run a mortgage company that serves the states of Florida, Georgia, Massachusetts, and Virginia. I speak to a significant number of people on a daily basi

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

s about their finances. Often people will call and ask to be pre-qualified months before they have begun the process of looking for a home. This is something that we strongly encourage. In some cases these prospecti

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

Combination pro

ve home owners are perfectly qualified and there is little that they need to do to prepare for making a formal mortgage application. But this is the exception to the rule. The majority of people that we speak to cou

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

ld benefit greatly by organizing their finances before making application.

Patience Makes Perfect

When we see that a prospective home owner could benefit from some preparation before shopping for a home we

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

are happy to help them structure a detailed plan. In most cases sixty to ninety days of preparation is sufficient to move a borrower into the position to qualify for a better mortgage with a lower interest rate. Wou

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

ld you be surprised to hear that many people have trouble waiting that extra couple of months to purchase a home? This is in spite of the fact that they may have been renting for years prior to considering home owne

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

rship. It seems that the moment that the thought of buying a home occurs to most people they feel compelled to start shopping. Please consider the benefits of a little bit of patience.

One Percent Goes a Long Wa

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

Unless you are well qualified and have perfect credit you may discover that a bit of preparation will save you more than a full percentage on your interest rate. As an example, if you were to borrow two hundre

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

Following aspects would a

d and fifty thousand dollars a single percentage point on your rate will mean a difference of sixty four dollars per month. That adds up to almost two thousand dollars per year - and sixty thousand dollars over the

dd to the challenges in developing combination products:

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

life of your mortgage. For many people the annual savings of two thousand dollars could be well used on other things. It may not be likely that you will have your mortgage for a full thirty years, but regardless, th

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

e potential savings will add up.

Pick Up the Phone

Pick up the phone and call your friendly mortgage broker. As a Florida mortgage broker these are the calls that I love to get. Prepared customers make our

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

job easy. Tell your mortgage broker that you are planning to purchase a home or refinance in the near future. Ask for their advice. You should specifically ask them what things you can do over the next two or three

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

months that could make a difference in your interest rate. A good mortgage broker will run your credit for free and be willing to take the time to review your entire situation.

The Game Plan

Everyone has a

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

Professional from academic institutions, pharmaceutical industries, health care indust

different situation so the advice that your mortgage broker will give you will, of course, be custom tailored for you. But there are several important categories that can have the largest impact on your ability to q

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

ualify for the best and lowest cost mortgage possible. The content of your credit report will be very important. There are quite a few powerful credit repair strategies that your mortgage broker might suggest which

.

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

could have an important impact on your credit score within any sixty day period of time. In addition to your credit the other categories include your income, your assets – including the handling of any gifts you mig

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

Companies that provide selfless information through particip

ht be receiving, and your property. In each of these cases there are strategies for preparation and documentation that can make all the difference.

Copyright © 2007 James W. Kemish. All Content. All Rights Reserved

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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