SIMO
Simultaneous closing (SIMO) is a strategy in the real estate financing field. Here, two simultaneous transactions happen at the time of close on a piece of property. First, the seller makes a mortgage note for the buyer to help in financing the property. Next, the note is sold to an investor once closed. This pays the seller cash. Thus, the buyer makes mortgage payments to the investor that holds the note. The seller receives cash for the note, while the buyer gets the title to the property. This means that the seller will no longer receive mortgage payments and will no longer be involved in future transactions.
POPULAR TERMS
Cross-Sell
Selling or recommending related or complementary goods to a prospect or client. In finance, it pertains to selling several types of investments to ...
Dummy Director
Individual on a firm’s board of directors acting and voting on the interests or on behalf of a non-board member. These are most commonly used ...
Comparable Transaction
Process of valuating a firm for sale. It takes into the account the previous sales of same companies, as well as the market value of publicly trade ...
Gambling Loss
Money lost from games of chance or wagers on events with unsure results (gambling). Such losses can only be claimed against gambling income, which ...
Essential Health Benefits
Set of benefit requirements that must be included in some health insurance plans. It is made up of 10 general benefit categories, which must be par ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
Student Loans: Consolidating Federal Loans
If you find it difficult to monitor and pay the student loans on your own, and want to reduce your monthly payment and lengthen the repayment sched ...
Macroeconomics: Basic Concepts
The concepts involved in macroeconomics focus on three fields, including national output and income, unemployment, and inflation and deflation. The ...
Buying a Home: Writing an Offer
You’re down to the last four steps to buying your dream house. Now, you need to write an offer and the seller has to accept it. Take into acc ...
Buying a Home: Obtaining a Homeowners Insurance
You are one step closer to acquiring your dream house, and you want to make sure it has substantial protection against any disaster or occurrence t ...
Featured Investment: Annuity
Featured Investment: Annuity
Investments are what trading is all about. And knowing about the various a ...
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 07:00 | Leading Indicators | Jan | |
| 07:00 | Leading Indicators | Jan | |
| 08:00 | Economy Watchers Survey | Feb | |
| 08:00 | Economy Watchers Survey | Feb | |
| 09:00 | Industrial Production | Jan | |
| 09:00 | Industrial Production | Jan | |
| 09:00 | Trade Balance | Jan | |
| 09:00 | Trade Balance | Jan | |
| 10:00 | SECO Consumer Confidence | Feb |
