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Application meets our underwriting guidelines and the value is supported by an appraisal, rfc will purchase the loans. we don't see treating the homeport included loans any differently then any other type of loan." later, the homeport program was expanded to include the financing of energy-utility and healthcare services in addition to telecom services. one might grasp the "attaching" of telecom and energy services to the property, but healthcare seemed like a "reach". to understand the financing of healthcare services in the home mortgage, one needs to refer back to the definition of "value" and not focus on the type of services being "attached". using the above explanation, the , 000 is the "value" irrespective of the intended use of the , 000. the conclusion was that it wasn't so much the type of service "attached" to the property, but the underlying "monetary value". related lender benefits: of particular note, mr. hemschoot and mr. bruce paradis, ceo of gmac-rfc, recognized two key benefits of the homeport business method. first, all lenders experience an increase default rate when energy costs significantly increase. homeowners have to decide to "eat or heat". if the energy crisis continues, loans go into default. with homeport, the homeowner does not have to "come out of pocket" to pay the increased energy costs. the homeowner can have the increased costs deducted from their energy "bucket", which was funded using the mortgage loan. the bucket drains faster, so it might only last four years instead of five, however, the homeowner's financial stability is maintained. thus, it is believed that homeport loans are less "defaultable" and therefore "better" loans. second, because the borrower is eliminating a recurring monthly expense, i.e. their energy bill, then the homeowner will have more cash available to make the loan payment. again the homeport business method lowers a lender's default risk. examples: for further clarification, we use the following explanations. explanation 1: if you have two homes that are structurally identical and have a competitive market analysis value of 0, 000 and one has , 000 worth "monetary value" ; of telecom products and services included "attached" ; , then that home is worth , 000 more then the other and should have an appraised value of 8, 000. the appraiser will know the exact amount of the "monetary value" of the homeport products and services because homeport issues a "certification of value". see: "the appraisal process and methods" ; explanation 2: the commercial real estate world values pre-paid deposits, rents and other "items of value" when determining the overall "value" of a commercial real estate transaction. historically, the use of pre-paid items has not been widely used in the residential marketplace. the logic, however, does apply in the residential world. the "monetary value" of the telecom services that is attached to the property is a pre-paid asset. if the homeowner is transferring , 000 of pre-paid telecom services to a buyer, then the "monetary value" of the pre-paid asset being transferred is , 000 and this "monetary value" must be included in the overall "value" of the real estate transaction. explanation 3: if a borrower desires to have a pool installed as part of the purchase and financing of the property, then the future pool "value" can be included in the appraisal at the time of the purchase and financing. what traditional occurs is the appraiser is given a copy of the contract to build the pool. from this contract, the appraiser can determine the "value" and then include the "value" on the appraisal. when the loan closes, the funds attributable to the building of the pool are held in escrow or poker on line.
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Finally, when everyone has either seen the bet or folded, the game is concluded. at this time, everyone is required to turn over their cards and see how well their hand met the other player's hands. you can use the previous chapter to help you to place "value" on each player's hand, based on what they have accomplished over the round.
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For this purpose, the player is allowed to show his cards to a player who has already dropped out, who might be prepared to back him financially.
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