Korean Like This Blog

Sebastian and Carolina moved from southern Texas to Oklahoma City over two years ago. Carolina’s mother Maria lived in southern Oklahoma City, along with Carolina’s three brothers, two sisters, and nine nieces and nephews. Once Sebastian’s job gave him the option to move up to Oklahoma, they took it. They moved to the city thinking it would be a better place to raise their three young children. They had heard how safe it was.

Southern Oklahoma City is quite different than other areas of the city. Oklahoma City itself, while only ranking around 30th in the country for total population, ranks as high as seventh for total land mass. At one point in the middle of the century, it was the second largest city by landmass, following only Los Angeles. It is a large city geographically. This is made possible by the strong automobile culture in the plains states. With more land available and cars to connect people quickly, things are more spread out in the center of the country. That’s why the different neighborhoods in Oklahoma City are so separated and distinct.

Southern Oklahoma City is home to the state’s largest Hispanic population. All of central and south America is represented. Lining the streets are grocery stores and flower shops proudly displaying the flag of the storeowners’ country of origin alongside the American flag. It is truly a colorful area.

Yet it is also, unfortunately, an area attractive to young gangs. Sebastian grew up in San Antonio. He knew all about the attractiveness of gang membership to a young Hispanic boy in a foreign country. He was born in the United States and had in fact never been to Mexico, where his parents were born; so he didn’t feel as foreign as some of his friends growing up. He easily resisted the urge to join a gang. Once he landed a good job outside of San Antonia, met Carolina, and started a family, his early childhood became a distant memory.

However, moving to southern Oklahoma City immediately reminded him of his adolescent days. Within four weeks of arriving, and two weeks in their new home, Sebastian and Carolina became victims of a home robbery. It was obviously done by amateurs—the robbers only took the Playstation—but it nonetheless convinced Sebastian that he had to do more to protect his family.  

Sebastian bought a home security system and had it installed immediately. He had not been cognizant before of the need for home security in the area. During the daytime the neighborhood appeared so colorful and cheerful. It didn’t occur to him that not having a home alarm system was putting his home and family in danger. Yet he was unwilling to move his family away from Carolina’s family and into the quiet suburbs. This part of town made his family happy.

Sebastian and Carolina decided to take home security into their own hands. They armed their home with the latest security technology and were able to remain in the neighborhood that they loved. They refused to flee the neighborhood but instead decided to take action. They protected their home.

Financing, Loans and Commercial Finance for Churches at Church-Financing.com.

Nearly all Churches necessitate the need of a commercial real estate financing. The financial sources for real and substantial estate includes: Regional banks, Private investors, Insurance companies, Saving and Loan institutions and Mortgage banking firms. First let’s touch on the obstacles that occur during the process of acquiring the church mortgage loans & church financing.

The Major Church Financing Difficulties:
(1) Church properties are unique and so, for this reason Lenders have a great apprehension regarding this matter because if the loans are not paid within a stipulated time, Lenders will be accounted for it. They have to assume ownership of the property. Owing to unique property features, it is not going to be easy to come across a new owner.
(2) For getting the hold of church loans, Lenders often entail the need of “personal guarantors” especially on account of prior observation with reference to the complexities that are involved in selling the church property again.
(3) When the church financing needs are attained, there are many objectionable terms that get exist. Such as: Minute amount of loans, low loan-to-value (LTV) of 50% to 60%, short-period time of loans and rates of high interest. By this, churches get many possibilities to face the countless financial difficulties.
(4) More than Purchasing and/or Refinancing, Church Financing, Church Construction Loans, Church Renovation and Land acquisition loans are considered as more intricate to deal with. Therefore, needed repairs are delayed for an indefinite period and new churches take lots of years to become a reality.

The Practical Solutions for the Problems which have been Issued above are:
(1) High LTV: High LTV of 75% to 85% would generate a realistic amount of about 15% to 25% that can be utilized for the purpose of down payment or non-financed portion in refinancing.(2) Long-term loans: To make the church financing more successful, rather than short-term, church financing should be of a long term, i.e. up to at least time period of 30 years.
(3) Non-Recourse Loans: Being reluctant towards individual guarantors fetches a non-traditional church lender. And than through this approach, church lending will no more rely on individual guarantors for the church financing.(4) Large sum of Loan: Ability to accommodate large church loan needs, at least of $500,000. This move would than persuade churches to finish their most business financing in one stage rather than by going through many stages.
(5) Low interest rates: Churches are being charged with the sky-scraping interest rates than it is actually required. Church financing payments can be phenomenally reduced if the payments are restricted to prime plus 1% or less than that. As a result, long-term church loan as well as decrease in overall payment will improve the church cash flow considerably.

For more detail log on to www.church-financing.com. Church Financing is a church loan division of Griffin Capital Funding offers church financing and loans with no personal guarantees, favorable rates and good terms.