Quete

Ranking Homeowners Insurance Companies – The Good, the Bad and the Ugly

admin — Wed, 07 Mar 2012 00:00:52 +0000

How does your homeowners insurance company rank? The one time you don’t want to find out they rate at the bottom of the list is when its time to file a claim. Insurance companies are good at taking your premium payment every month, but when it comes to paying out claims some companies rate better than others.

Most of us never think about our homeowners insurance until its time to file a claim. In fact, we can go years of just sending in our premium payments and never even so much as calling up our agent to say hello. Then comes the day when you need to file a claim and you find out that red tape and bureaucracy are the name of the game. Recently this situation played out all too well during Hurricane Katrina where certain homeowners insurance companies fought tooth and nail to keep from paying out claims to victims of this devastating event.

Thankfully there are a number of ways you can find out just how good your insurance company is and if they can do more than just issue a quote without a fight. A number of online and offline resources track insurance company ratings and custom satisfaction scores to help you be a more well-informed consumer.

A.M. Best (www.ambest.com) is one such source that provides information about the financial health of your homeowners insurance company. They track the ability of insurers to pay for losses in the event of a major disaster. Their rankings are the industry standard for measuring the financial well-being of all property, casualty and life insurance companies.

When it comes to actual consumer satisfaction ratings the data isn’t as well-kept as the financial ratings. A number of websites offer consumer feedback on insurance companies as well as reports from policy holders on general insurance company handling of routine inquires. The best source of insurance company satisfaction ratings may come from others in your community who often have first-hand experience with many of the local homeowners insurance companies in your area.

Invest – Companies With Potential That Will Boost Your Portfolio

admin — Wed, 07 Mar 2012 00:00:15 +0000

Not everyone can have the next big idea. But everyone can invest in big ideas by focusing on companies that have huge growth potential. There are several industries that are taking off right now beyond anyone’s expectations but are still new enough that you can get in on the ground floor.

One huge growth industry is the environmental industry. This can include anything from organic products to electric cars. People are starting to realize that they need to take our environmental impact and are taking this into consideration when buying the products and services they’ve always used. Investing in a company who focuses on catering to these environmentalists is a great way to see a huge return on your investment.

Another growth industry is the pet services industry. In a recent nationwide survey, 85% of pet owners felt their pets were a member of their family. Pet owners are starting to be more serious about the food their pets eat and the care they receive. They are even paying for things like doggie day car and doggie camp. Investing in companies who cater to the elite pet owning crowd has been a great success for several of my clients and I expect this industry to do nothing but grow over the next 10 years.

When you’re trying to see the best return on the money you invest, getting in on start up companies or growth industries is the best way to you. You can typically invest with much less and have a better chance of seeing huge returns in the future.

REO Asset Management Companies

admin — Wed, 07 Mar 2012 00:00:08 +0000

What Are REO Asset Management Companies? REO Asset Management Companies are the companies that control the selling of a foreclosure and short sale properties for banks, lenders, or investors. These companies help decide the price based on the BPO or broker price opinion that has been completed on the property. These companies are in charge of handling the entire process of selling the properties. They handle preserving the property, evictions, and maintenance on the property. These REO asset management companies do not do the work themselves, they outsource these services.

Services Offered By REO Asset Management Companies Lets discuss in a more detail these services. After properties foreclosures, the bank, lender, or investor will assign the property to a real estate agent or broker who will then visit them and report back to the REO asset management companies whether someone is living in the property or if it is vacant, along with the condition and maintenance of the property, and whether the property is secure or not. After receiving back this information, the REO asset management companies will request the real estate agent or broker to complete a BPO on the property to determine the value of the property. The company will usually order an appraisal on the property and sometimes a second BPO by a different agent or broker. The agent or broker will coordinate all access to the property with other parties.

Next is the property preservation and maintenance. This is done two different ways; sometimes the management companies will have the agent get estimates and oversee the work, or they can also have their own company handle this with the agent or broker coordinating the work. The work to be completed includes re-keying the property to the REO asset manager’s specific code, trashing out the property (removing all debris and cleaning the property), mowing the yard and preparing the property for sale. Some companies will also choose to perform cosmetic work on the property such as paint, flooring and minor work, but most of the time they do not elect to perform such repairs. If the real estate agent or broker is responsible for these activities then they must get 3 estimates for such all required work to be completed, upload them to companies website for approval.

After the work is completed, the asset management companies will inform the real estate agent or broker what to list the property for and request a listing contract to be prepared by the real estate agent or broker.

Once there is an offer on the property, the REO asset managers will submit the offer to the bank, lender or investor for approval. Once approved, the REO asset management companies coordinate the closing of the property.