HAMP dead? If not soon it will be reports are homeowners are dropping out of the Obama administration’s foreclosure prevention program at a faster rate than they are joining it.
The system isn't working and needs fixing. Borrowers aided by the Home Affordable Modification Program was targeted to reach more than 3 million homeowners by paying mortgage services $1,000 to rewrite loan terms and $1,000 annually as long as the borrower participates, up to three years. The program has been faulted by lawmakers and watch dog groups for the high number of recipients who default on mortgages after getting the government aid.
It is more profitable for Banks to seized the property than to participated in the program.
Quick Definitions
EBIT = Earnings Before Interest & Taxes
PBIT = Profit Before Interest & Taxes
As follows-
EBIT = Operating Revenue - Operating Expenses + Non-operating Income
PBIT = Net Profit + Interest + Taxes
Who uses EBIT and PBIT banks, credit scoring companies and even investors to measure the relative health of an enterprise. EBIT measures profitability excluding interest and income tax expenses in order to measure earning potential. The higher the EBIT, the better as far as banks or others are concerned. PBIT also measures profit but is additionally used as a proxy for operating income. However, it should NOT be confused with gross income. Instead, EBIT is a useful tool for those with little to no depreciation and/or amortization since it represents the total amount of available cash available to pay off creditors.
See you at the top because we will help get you there.
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