Loan Mortgage Consolidation Dot Com

Users have to pay the debt and bank credit, and great hardship for the debtor to say. Increasing applications in recent years, international investment firms and banks, and owes the company a creative solutions can come. How are you doing? Let’s open a little bit about it.

History of the subject

1980s as the first sales of troubled loans in the U.S. came to the agenda. 1990s, Japanese banks, in 1998 and then intensified as the Asian barracks were sold. European banks in recent years, notably Germany and Italy, sales are concentrated in troubled loans.

Banks, Why sell troubled loans?

A rational decision to sell problem loans of banks more than it has become a necessity now. Modern banking, instead of dealing with troubled loans to the bank to create more value for customers and adds more to the bank to focus says. To sell the troubled portfolio, a bank to provide a quick cash flow and help to improve the quality of assets. In fact, spring cleaning to do in an instance of the bank’s call is seen as a business. Improvement in the quality of bank assets also provides capital and, for banks, the credit rating and funding costs also creates a positive impact.

Buyers, why are problematic loans?

With growth in this area of the troubled credit market, many specialized asset management company was founded and grew. These companies buy the portfolio of credit from the institution with a different perspective and motivation will lead to solutions. Portfolio for the rapid analysis using a variety of expertise. First, to understand the value of the debtor company’s debt to the needs of the company after evaluating issues such as payment capacity on the most appropriate solution based on the company is negotiating with. No other solution is left to follow the legal issues can not be found.

What is beneficial to the debtor company?

By an organization’s experts to resolve troubled loans often comfortable with the debtor company. If you have an activity of the company is profitable, the receiver of the company is focused on improving the value of saving and. In some cases, just by giving additional credit, sometimes as partners, and provide management support for the company’s growth and growth are provided. In this case, the debtor company and the receiver is getting the debt. If the company’s operations or potential profitability is not very good, the recipient’s priority is to resolve to negotiate debt payment. Certain discounts on the total debt negotiation configuration in the payment plan on doing is talking. The solutions described above, all of the debtor company is able to get out of debt without damage.

Recipients Who?

Today, international investors have troubled credit and 100′lerce solvent. An important part of investors to do this work since 1980 and has developed expertise are very different. Very large resources and the expertise to do this work all over the world to uncover the real value of troubled loans is to be effective. Receiver if necessary to give examples of:

. Investment banks (Lehman Brothers, Credit Suisse, Goldman, JP Morgan, Merrill’s, Lehman, Morgan Stanley …), as

. Special funds (Cerberus, Lone Star, Newbridge, Marathon, Avenue, and others),

. Commercial banks (ABN-Amro, Bank of America, Citibank, Deutsche, HVB, ING, HSBC, Standard Chartered, and others),

. Finance House’lar (GMAC, GE, etc),

. Local asset management companies.

Recent developments in the period

In recent years the number of funds investing in troubled loans in the has been a tremendous increase. This was the competition and price hike. Sub-prime crisis before, Germany and Italy from the market portfolio return expectations of investors in the single-digit numbers would fall to. On the other hand, applications such as international accounting standards and Basel II banks were forced to sell more portfolios. Global market development funds to the growing quest for new markets intensified.

What is happening in Turkey?

Turkey’s first sale of a portfolio of troubled loans made SDIF article. The portfolio of one of the SDIF sold Deutchebank, other kurduğu Brothers’ın Lehman Asset Management Company ( “VYŞ”) were received. In addition, the credit card portfolio of banks are prepared to sell or sell. However, some banks in the credit portfolio of commercial and institutional follow-up in sales when the button is pressed, some of the preparation are.

On the other hand, debt, some companies in trouble with the opinions of international investment and produce different solutions.

A part of international investment companies established in Turkey have faaliyeleri, a part of the negotiations continue and are seeking opportunities.

Results

And international investments in troubled credit institutions, both banks and companies to evaluate alternative solutions and have many opportunities. Possible solutions may not be suitable for every company or bank. However, in order to evaluate this issue and to better understand what works and the development of these markets in the country to examine how the benefit is required. Market will develop in the near future, and all parties to think about it even more awareness

Every year 20% of global logistics is growing in a local logistics company also is growing. Increase in our gross national hasıla the remarkable growth in our foreign trade volume. Turnover of 100 million dollars last year on the logistics company has been growing at a rate of minimum 50% a significant clue.

These are problems that growth brings. 5000 m2 warehouses will be good enough in the past, while today 40,000 - 50,000 m2 warehouse and are in pursuit. By organizations with between 20-30 have the largest fleet owner is seen as no longer truck manufacturers in the party of 50 evil one began to sell vehicles. Increased number and quality of jobs will increase to employees. Oil prices, the rental store, staff, fees paid in advance while the logistics developers closer to the customer up to 2-3 months to maturity based on cash payments and is in distress. Up to this day with their own resources grew from the small-scale transport, from Warehouse, gümrükçülük arising from the development sector with the resources we can now create your own, and even grew to be lived. External financial resources to grow with the company of the sector and in the future the stock market is open.

To grow, and after that we apply for bank credit resources are going to apply. The job growth, did not enter into financial difficulties, the credits for individuals and companies that can guarantee that there is no problem now, but compared with January 2008 an application will be different. Now you will not get credit easily, personal guarantees, checks, securities, stock or security fields outside the city will not be regarded as even more cost-effectively than their competitors have to sign the credit agreement will remain.

Founded in 1974 in the city of Basel in Switzerland and our country is a member of the International Exchange Bank (BIS) for banks world-wide collaboration needed to determine the criteria and the controls are working. BASEL I in 1988 and published criteria, linked to banks’ capital adequacy standards,

More clearly for the purpose of control of complex systems in November 2005 and the bank’s Basel II criteria, determined credit ratings and ratings based on the companies to strengthen bank capital requirement has been introduced. The annual turnover of 25 million dollars in gold will be placed on organizations with the SME scale. Risks in February 2007, March 2007, the capital adequacy regulations, the application will start in August 2007, in parallel, will enter into force in January 2008 the Basel II. After that date, banks or rating agencies give ratings of companies will want the report.

Banks with less cost to the organization a high degree, low-cost loans to those who have higher. In such a case to be able to get loans with low interest rates, companies will be required to receive ratings in the process is not high. Rating not as company size, profitability, liquidity situation, the debt payment capacity, financial structure, activity rate, real growth rates of corporate governance ratings experience of the company’s corporate growth, many years in development, industry position on the front of the eye will be.

The most important point, company accounts, not as degree of openness, document layouts, transparency, institutionalization, the work of the board system, the quality of financial and operational reporting systems, information systems will work.

Degree in 2008, which will start early in the year 2007 we do activities must be assessed according to. Or go to the bank, and competitors will receive a credit or 2-3 times the price of international norms, institutional. Now, in case of checks, personal bond with the mountains receiving time credit goes to the head of the field. Cheap credit then being managed, the corporate has to be given to the company, they will grow in other places on the assumption that one day we know it is time to leave the sector. Enter the European Union, but we know we will not get with today’s clothes. We have to start dressing like them. Come easy to us.

Income Tax Act for regulating the growth and earnings until the date of 31.12.2005 with effect 81st According to the article, see the trading of the shares within three months from the date of acquisition, the other a full stock of taxpayer corporation and of one year from the date of acquisition in the off hand olunan earnings, as earnings for income tax increase is applied. Ilmuhaberler In the meantime, the Trade by Kanunumuz’a “has been exported to be used instead of stock, application of this article, you need at the Ministry of Finance in doctrine, with the stock is considered as equivalent.

1.1.2006 shall apply from the date of the 5281 Act and the various ways according to the export in Turkey and the Capital Markets Board has taken significant or installed in Turkey for securities transactions on stock market shares of the banks or brokerage houses to be sold through right to the earnings tax (15 percent) will be taxed through. These are the sale of stock outside their earnings, as in the past, the annual statement of who the tax will be obtained. However, as full of elaborate institutions and more than two years of stock held by hand (or ilmuhaberlerin) off tax on profits will not be provided.

Current regulations in the provision of implementation as encountered hesitant about is that people in the income tax, subject to more than “close-out” process to take place in and process some of the profitable part be harmful in case of matrah to net result occurs it will not need to. Another problem with the expression, in the determination of taxable earnings, the dividend is received, the damage has been decreased by fall.

In the past, the Ministry of Finance General Directorate of Revenue’s web page, an explanation for this problem (the press) are included. Before analyzing this explanation, the ministry’s web page related to that part of the same are transferred.

“That same year, more than one securities buying-selling process and make this process a portion of the profitability of some of the malicious case of statement will be in the other earnings and the amount of irat (for earnings growth) to determine how to create public doubt that the explanation is on the track.

More than a year, in the case of securities transactions, the profit or loss amount obtained by this process will be evaluated together. Therefore the operation to be done in the same year due to an operation condition of the resulting damage, other actions can be offset against profit thus obtained is found. Into effect from the date of 1.1.2003 with editing, you’re changing before 82nd temporary and 56th in Article substances in the securities trade to offset the damage award is given to create a change in practice.

However, earnings and other damages in irat groups from other revenue sources to offset the Income Tax Act resulting profits 88th It is not possible in accordance with the provisions of Article.

Comments like this.

This description will be analyzed in terms of legal science, not of any legal value and meaning can be seen. Because of the press release “mukteza” level, even in Kabul and one is not possible to take legal action function. Legal speech tool of the Ministry of Finance, is the general papers, or with the press release is not legal.

Comments included in the field and change the law if the application does not change us, “meaning the law will koyucu the detriment of the counts to be interpreted as favorable,” from the date of 1.1.2003 entered into force in editing, should be modified in the previous article and 82nd temporary 56th article in the marketable securities on the Exchange provisions for losses to offset a change in practice is not to create “as it is not possible to understand the statement. However, when editing the article of that law koyucu old regulations included a provision to the new edit, the provisions in question are no longer removed by koyucu law would not mean another, can not come.

However, in practice we have seen reports that some investigation is to explain the reputation and matrah difference calculation, the press release is seen by taking into account the move.

This question, the last year and 81st in the future Earnings from sales tax will be within the scope of substances for the damage to be offset is considered, the law must be resolved at the level.

Because the problem, the temporary law for 67th after 1.1.2006 In terms of substance was resolved in part. Because the temporary Article 6 (1) paragraph, three-month period from the same types of securities or other capital market instruments in connection with more than buying-selling process is made tevkifat to implement this process a single transaction as will be taken into consideration the provisions were attached to. Under this provision to the buying-selling issues securities or other capital market tools have the same kind of registration, three-month period the operation of a portion of the loss of a portion of profits resulting in losses of profits to be offset by tevkifat matrah will be detected. If the damage results in the three-month period following the loss exceeds three months into calendar year registration period shall be transferred. In the last three months of the calendar year following the period the amount of damages can not be transferred.

However, this in editing the “same kind of condition that” it is not fair. The concept of securities accepted as a whole, the loss of a portion of the entire securities sales of securities should be deducted from earnings earnings provided. But also require legislative changes.

A correction and clarification

Were released on 15.08.2005 “contrary to the public notification laws do not link the City to celebrate out” during the running of me, this application is being transferred benefit provisions for certain phrases fell. This application, you look at the taxpayer to be solitary and eighteen age Not except for the no income is not the documents, revenues exclusively by law, established social security institutions from the month consists of those found, veterans, as well as martyrs of the widows and orphans also borders Turkey to 200 gross square meters not only home to be (have usufruct rights, including the state), then it is possible to benefit from zero-rate tax. To avoid misunderstandings lead to a fix I need

It is known, the United States, the housing finance system is the most developed and the volume of housing loans is the highest the country has come at the beginning and end of term variable interest rates on housing loans by using a housing that Americans have a great increase in the number that has been observed. Variable interest rates on housing loans and the large increase in volume of the most important reasons, Fed Chairman Alan Greenspan’in September 11 attacks by giving money to a severe, short-term interest of the draw-down and variable interest rates on housing loans can not be denied an opportunity to make. In short-term interest rates to Fed assessed as a result, housing credit is applied to the same percentage decrease in the monthly variable interest and variable interest rate in case of 2.75% on an annual basis’ s has dropped much. The tax rate of interest applicable to housing loans at 25% was a great fall and investors who use the housing loan, on an annual basis for such loans pay interest at a rate of 2% will have become.

On the other hand, low interest rates on housing loans as a result of excessive demand, housing prices increased and the market despite the current low interest rates, housing has become nearly impossible to have. 2000, when the basis in some areas house prices up 2 times and even in some regions home prices last year an increase of 100% in short-term housing loan interest rates and increasing drop in housing prices for people, a low variable interest rates installment paid towards housing loan then a effect was found.

By credit institutions with names that are very attractive to the credits. However, some of them, ‘optional variable rate loans’,’ Preferred Payment Planned Housing Credits’, ‘Custom Private Housing Credits’,’ Extended Housing Credits’, ‘Cash Flow to the appropriate variable rate loans,’ ‘Flexible Payment Planned Housing Credits” Advantage Housing Kredisi’dir Variable interest rates. Many of these products have the same general features.

Different names given by credit institutions, and above all of this credit is a part number, a team bound to the variable interest rates apply indexing. The housing loan interest rates in determining the basis for some of the indexation of a year-term treasury bond interest rates, average monthly bills of interest, or Libor COFI (Cost Index-Funding Cost of Funds Index) is. In determining interest rates on some of the indexation has different properties from each other and are used by investors so they will apply for housing loans should be careful about the indices. Basically, all variable interest rates on housing loans, investors will be paid by monthly installments in the first year of loan term, low amount, the repayment of any problems encountered are not at first. However, this situation should investors and investors misled by the later period, depending on the index rate to be paid on housing loan interest rate increases may be never be forgotten.

Another common feature of variable rate loans, all of the investors of more than one payment plan option is offered. By credit institutions to investors as monthly periods, interest rates in effect as of the date of statement, and the remaining loan debt balance is showing the account statements sent. Sent regularly to investors each month in that account statements, according to different criteria identified in four different payment options are also provided.

In the first option, a pre-determined criteria based on the calculated minimum payment option is available. Minimum payment, usually in effect for that month is calculated according to the interest rate is lower than the standard payment amount. Here, the amount to be paid investors normally pay less than the installments are to be recognized, with another change in the direction of minus amortizasyon to apply credits. But here, a credit institution by the investors as an option offered to pay less for short-term profitability for investors to appear as though it increases the credit balance of an impact that, so now to pay less later in the period to pay more means that investors should not be forgotten by.

The second option is’ only interest paid to ‘is. This loan type, loan term, investors in the first year’s interest expense by paying only credit being used, so the first term loans to investors in monthly installments to pay less in the way of recognition. However, this loan type, only the interest expense payment of the first year, investors pay the installment amount less, although this period during the loan’s main money remains constant, and never has decreased and this, this period of the end of the following payable monthly payment amount increase an effect that investors in the know it is good.

In the third and fourth option periods, respectively 15 and 30 year term amortizasyon apply. In this option, investors will be paid by monthly installments in amounts higher than other options, but also, by investors of each month and interest expenses as well as the main part of the money will be paid, the loan balance each month will be reduced by.

By some people, this program is an example of irresponsibility that credit institutions by such a program was implemented was misled investors and a higher amount of loan repayment faces and investors are leaving the future of the debt burden increases in this way is that put forward. Here Thomas Jefferson’un ‘is the responsibility of the price of freedom’ we want to remember the words. Credit institutions and investors to act with responsibility in this regard, flexible pay and variable housing loan interest rates will benefit investors as a tool of use is possible.

But here, some credit institutions and the methods used to market these programs should also excoriate. These programs are a normal citizen does not allow to understand the extent is complex and therefore by credit institutions to investors, the variable rate housing loan advantages and disadvantages of the correct and detailed information should be provided. On the other hand, credit institutions to install all the blame is not a correct approach. Here, the investors before choosing one of these programs, you well understand what and how any decision is required to take the risk. In short, this type of credit is essential to act responsible.

Finally it happened!

Per “e” it was not what I think, when someone was talking about total quality. Momentum going with a change digital revolution can not escape even though we know, players, rules, and even the audience even not yet certain exactly what this world, now we have a question and this question will ask the parties how we brood.

Classic words, information processors, what about “e” at the end of the “quality” Let’s bring? Are you ready for this?
Or total quality developers! What do you think about it? “Total Quality” of the “e” Are you ready to come?

How far are they from each other is not? However, according to both their own, have justified reasons. Someone with years of experience to mature, now more staid, but like some of the factory machines have been switched off inside, tired, exhibited a behavior, the adolescent and the other as desperate a warrior all the time, in every area of our lives trying to achieve and often it is.

Whether you know them if you let us briefly.

First, Total Quality:
As a clear conceptual definition of quality is not required, the individual (Edwards, Gilmore, Price, Brohi, Jura, Crosby, Taguchi, Feigenbaum, Deming et al.), The corporate authority of the (JIS - Japanese Industrial Standards Committee, TSE-Turkish Standards Institute, EOQC European Quality Control Organization, ASQC - American Quality Control Association, et al.) philosophical contribution, customer, product, production, value and context of different definitions has earned over time. Some of the definitions, needs the ability to meet customer preferences, requirements-to-use design and specifications compliance, the first time and the right to make a product or service will be of value to organizations working in all areas of stability can be considered.

As functional aspects of the quality of development can be different. According to some perspectives, 20 Statistical Process Control has started at the beginning of century in America, then coming away from mass production and quality, technological developments, the results are available on the Japanese quality concept, quality is a cornerstone of the development are created. According to some aspects of the quality of the stage, in 1800, while smoothly, with examinations between 1900-1940, with control of the process between 1940-1970, between 1970-1980 in the design process, after 1980, the product’s design is shaped.

The common point of the merger follows similar definition can define. Focusing on product quality inspection and quality control (prevention, statistical methods) and the start of the first phase, focusing on the production system of quality assurance (prevention, ISO 9000, certification) and was continued, and then focusing on the life form to total quality management has been reached. Yes, at this point, total quality management is now lifestyle, Customer Focus, participation, continuous improvement, process improvement, problem solving, transfer of authority and management are discussed in terms.

There is a brief description of the digital world:
However, it is important to say first, before recognition. Development of the concept of the digital world, to follow a path different from the development of quality concepts.
Quality of the world to talk think first, is the establishment of strategies, are then applied. The digital world is going parallel applications with the strategy, are often the first application, then you think, and strategies are established.
Only you can know the difference, even to understand what we are faced with, at least I feel we can not understand is help.

Chronologically to go back to the discovery of the abacus is not necessary. 1943 yılında “five computers in the world market place is no more than” said IBM chairman Thomas Watson in 1981, or “everybody memory 640 KB of text is enough” said Bill Gates, to extend the period if enough I guess.

Now, that has contributed to the establishment of the digital world, these people can not even estimate the size of development let’s look briefly.

In 1000, around the 1970 chip size and technological intensity, while the 2000s this figure reached 1 billion. In the same period of 1 MHz 1 GHz clock speed, the main memory kbyte’lardan 100 gbyte’lara, architecture, environment, from 4 bit to 64 bit, Arpanet’ten billions node has reached the Internet.

Volumetric size of the host ENIAC’tan, extending from there to the desktop systems and server systems, timing laptop, notebook, PDA (Personal Digital Assistance) sizes down even further to minimize the company’s production / sales, etc.. information with mobile phones has been to read.

Software size small accounting-finance-personnel payroll functions of systems, timing requirements planning-resource planning (MRP-MRP II) systems grew up, institutional resources and capacity planning, cost accounting and management decision support systems by the addition of (ERP) to gigantic size varmıştır. Today, the front and back office systems CRM (customer relationship management) under the merger intensive work.

From another perspective, the personal computer, wireless communication applications, internet infrastructure, internet infrastructure, applications, products are experiencing a transition towards.

Parties introduced. In the meantime, the world, in the recent past and what issues the parties have also got to see briefly.

It was mass marketing sixties. If everyone within the same sample was then Coca-Cola. Divide markets brought in the seventies. Marketers in different types, different classes, with different tastes and needs of people noticed and began to examine them. Results: Eighty Years of Cola Classic, Diet Coke, caffeine Free Cola, New Coke as led division. Track divisions are back together, similar motion with the process is ongoing.

Not only marks the company also was divided, and then began buying and furya merger, competition in the left win-win theory.

Description has been made the target audience: Babyboomer, yuppies, and other grumpies … have been defined.

Description trends were: Rightsizing, round trend, political corretness, big trend … and the other have been defined.

Today;
Sunday, he now practices as a result of the audience and the trend is set. But I have to tell them a long time will remain constant. We gradually approached the limits of technology, equipment, quality products are very close to each other. Do not ever ask the competition. Although even if we win-win in the competition still exists. In some cases, companies who, you know who the customers are confused. Your company, your customers can be another’s. Or vice versa.

Now let’s go back to the beginning. Let the world questioning their relationship with total quality digital.

According to the literature that affect the quality of activities are: Marketing-market research-sales, design and development, process planning and development, purchasing, production of, and be of service, verification of work (inspection, test, control, review, audit …), packaging , storage, sales-distribution, assembly-delivery, service-technical assistance, after-sales market surveillance.

In the light of all this information, do not enter a phase of the digital world can see you getting?

Now, questions, based on the quality of the digital world, e-Let’s take a more extreme point.

* The order of a business how to earn fast cash if so, it will only take place with the help of the digital world we know?

* Build a business to consumer (B2C) movement, in fact work more than one job (B2B) movement was born, this intensity may be the beginning of the digital world, but we noticed you?

* When working with e-business methods of a company anywhere in the world would be competitors to the company, this method is non-company anywhere in the world can come to learn about competitors?

7 * 24 * The bank’s systems must be able to work. Internet site a few hours, even if we can allow to remain closed?

* A transaction on a bank branch costs $ 2 to do the same process to 0:15 dollars through internet, through call center to make around 0.6 dollars, going to the bank branches will close? Or from Internet sites sell all the products will necessarily? Social needs of people of have to forget you’re dead?

* Drug and food, even on products like everyone to understand the description is being placed, customers still DNS, ISP, HTTP, SMTP, POP, FTP, SSL, such as shortening you going to talk scary?

* Will we disclose the rights of online consumers? Online orders are not taken in news or unreceipted way, even the goods, returning the goods to pay the price for months waiting for you to forget the consumers are we?

* Online citizens, moral rules (Netiquette) how we will protect? Ethics rules that recognize the ambition to make money obviation you think you’re not?

* Web and e-commerce success criteria of the visual, functionality, interactivity, content, timeliness, Internet compatibility site benchmarking, active marketing, sound, memory, instant help and when we will truly apply?

* What time of three-dimensional modeling using land agent (as in the U.S.) to customers within one day be able to show 15-20 home?

* Amazon.com ’s actually not only the book market, but also buy the book marketing experience farkediyor Do you?

* Home office (home worker) work is not in fact escape from work, video conferences, electronic mail, etc.. This work is supported with digital communication tools, traffic, parking, stress, work place issues such as the use of resources is unnecessary, the fact that the total quality is an issue you’ve forgotten?

* The digital world to the concept of flexible working and flexible office will know the impact positive? Of enormous change in the cabinet office documents, rather than thin and elegant cabinet responsible for the coming of the digital world of the paperless office is a product that we can understand?

* The three basic components of the digital world, hardware, service and e-quality of the content can not escape when we learn?
In fact, questions bitmez.
But to ask us not to lose too much time!
Because the digital world, something in each of the key behind oluyor.Her click measurements, data bases, statistics are engaged, then the simulation is done, you go one step ahead of the digital attitude appears. The private sites, spending track changes, and you need a loan offer to the bank and you prefer a more convenient and you proposed to call books, soon ten feet away when the “Stop us, we have new goods” and messages to your mobile phone is prepared to pour stores, etc …

Much more rapid development of technology from the social system, looking to the past can lead to wrong predictions in the. On the other hand, this uncertainty, do not miss the opportunity to offer creative initiatives.

But this is the overall quality of the digital world benefit from the experience is not a reason not to. We need to address the problem correctly. Attention and reflexes of a young seventeen year old, thirty years is much better than the old one, right. But he can not receive driver’s license. Because experience, sense of responsibility and is weak in terms of psychological maturity. Do not approach the problem from this angle?

Quality philosophy was a long ways. The speed of this digital world, and it needs the power of change. The digital world also needs the experience of Total Quality philosophy.

The digital world is a world of seconds to sink the company. Therefore, each component of this world have a seamless quality. Standards, rules, styles, patterns of this world is not yet certain exactly how the e-quality is right?

Not only of manufacturers, consumers, contribute to the course. What is the contribution it? Chat culture, I would also drop it and now that işlevsiz sites, was stuck in the concept of job functions to work and from work, consumers will not say here.

Once upon a time when the video camera out, to prevent the exposure of available Do you remember? Camera to the new technology we continue habits. The same error continues is required.
First, we should be ready to change our habits. To learn, we must try to not be afraid to try. Primary task here is falling overall quality developers. Total quality of life in e-format must be created together. Prescription is not unknown in many actually. E-life to use as the active use of our thoughts about, criticism and suggestions, on any platform, and at every opportunity to say out loud, even gelse pale “is said, it would be good if” we need to tell yu. However, if it is most important component of total quality, customer satisfaction is the coercive effect, we will contribute to e-life.

Manufacturer tasks or provide services that have also fallen. A new environment is perhaps the first time, “What is the profit if you sell” the idea will win states. However, it should not fall for the old error. On the other hand, niche products and services-the-record aside for now, the technology we have previously said is based on the increasingly limited. Therefore, your product range to slow down, come to the forefront in service quality. Manufacturer and service of the digital life in this context are required to learn the rules of a moment ago.

As of the end of the first quarter of 2006 in the world of the net asset value of mutual funds exceeded 19.1 trillion dollars. Net asset value of mutual funds in Turkey, 16.3 billion dollars, but this number decreased 17 percent compared to Christmas. In this quarter the amount of new money from investment funds also had 364 billion euros. Two world’s largest investment fund market, the U.S. and Europe. This value of 19.1 trillion assets of 9.3 trillion dollars the U.S. share (48.5 per cent of the market ’s). Europe’s share of this figure is 33.6 percent. Australia is ranked higher then (4.5 percent), Brazil (2.9 percent), Japan (2.8 percent), Hong Kong (2.7 percent) and Canada (2.6 percent) is coming. Only in the U.S. first quarter 2006 net cash funds of 171 billion dollars was entered. World-wide, this time from the money market funds, while net output returned to positive in the U.S. this new category.

The number of investment funds in the United States 8000 ‘above. 9.1 trillion dollars of this funding almost half of the net asset value was deployed outside the U.S.. On the other hand, 56 per cent share of this money in the fund (the rate of 48 percent worldwide).

201 units between 8000 mutual funds in the U.S. Stock Exchange Investment Fund (BYF) var. This figure in Turkey 3rd Value of 300 billion dollars in the U.S. on BYF’lerin assets.

U.S. fund industry provides employment to 150,000 people. There, the number of individuals with mutual funds holding 91 million. This figure is half of the population to invest in years. The average age of 48 individuals, 56 percent of college graduates, on average, each portfolio is the presence of 4 different investment funds. This portfolio of stock funds have 80 percent. That’s 64 million 91 million individuals (70 percent) was 10 years since the first investment fund. receive 71 per cent before investment funds are professional investment consultants consult. The average size of 48,000 households in the investment fund portfolio.

The total number of investors in mutual funds sector in Turkey, a kind not exceeding 3 million individuals and not at this level for any above trend. Turkish investors, the investment funds in an account held in liquid funds and interest payments for the month with telephone, electricity, etc.. To pay the bills and buy a short-term investment tool, as the sector looks. 96.5 percent of the money ‘is going to fund the B-type. A type of money to funds rate only 3:57 per cent. This rate negotiation process, all EU countries as well as living art and the art is not likely to. A type of fund shares held in the even that the rate does not exceed 55 percent.

8,000 + mutual funds in the U.S. stock market average return between the return on the funds rate can not exceed 20 percent. Portfolio manager in the back of the ineptitude of the performance of this rickety costs not lying. The area of individual investment funds, to manage the fund’s assets to purchase the right to take on some costs. These investment funds between the salary of the sales team, marketing costs, transaction commissions, management fees and fund managers are eating lunch in the stylish restaurant, and they also have the price of an exotic beauty.

Last 20 years, American investment fund for investors not keen. These individuals can achieve an average annual income was 2.5 percent. But this time the annual average inflation is 3.1 percent fixed for the S & P 500 index return was 12 percent.

Turkey is not so bad in this picture. As can be understood from the following table, the Turkish investors in investment funds as a long-term investments when the stock market started and you can beat inflation.

Fox had a story on that, on one to play chicken on. We do not want our text to the”economic worth “, more exactly,”non-economic worth” is going on. In fact, all human behavior is economic. So people like her live, the less energy consumption as possible, to reach the goal. This rule of the Ottoman economists say-I”ekal law “he had. Meaning, to minimize the effort. So, seeing that people are inherently economic behavior, is where the real economic behavior?

There are two main sources of non-economic behavior. First, the short-term interests, to keep medium and long-term interests above. Second, personal or local interests, social or public interests prefer.

Of people, look after their own interests, the public interest”to override the humanities “, but”non-moral” behavior. People, to deter behaviors that kabil society to act on behalf of a”national council “prohibited and fines will not adhere. To enforce the ban and punish those who violate the rules of the public administrator is appointed. Public administrators who constitute the top officer of the government ministers and prime ministers are of course. That is to say, the government’s task, on the occasion of the”long-term social interests “must be to watch. If the government, individuals or small groups, short-term interests, the people prefer the long-term interest,”the public manager, “no. After this long introduction, governments, public investment”for the sake of sweetness “, let us explain how to manage non-economic.

Let’s say, the state’s future in 10 years, 10 trillion lira in investment money is to be separated. Similarly in the hands of states, each of which will be finished in 1 year, each up to 10 trillion lira, has 10 investment projects. So the source 100, the investment amount, 100 trillion TL. Of each investment, the expected profit in the year is 1.2 trillion. Annual interest rate is 10 percent. If the state, 10 project starts at the same time, each year 1 trillion reserve resources, the 10 years after the end of the project is 10. Each project also invest 5 trillion of the circuit is interest, so that total investment would cost 150 trillion. If only one project each year and finished it starts, what happens if? Completed each project, the next year from 1.2 trillion a year will provide a profit, investments will be completed again in 10 years. But this time you will get 54 trillion profit in the fall, the total cost would be only 46 trillion. So that the pure investment management suffered damage from mistakes is 104 trillion TL.

Corporate Tax Law Article 8 of the 8 / 4 substances as required;

. At least 25 percent of the stock portfolio of securities investment funds (excluding foreign exchange investment funds) with the same quality of the portfolio of securities investment business arising from partnership earnings,

. Features mentioned above securities investment funds do not move (except for foreign investment funds) and portfolio management of securities investment partnership, arising from the earnings,

. Risk capital investment funds and partnerships of the earnings,

. Real estate investment funds or earnings of the partnership,

. Earnings from investment of pension funds, (the earnings of the Income Tax Act are subject to tevkifat according to Article 9.)

from corporate taxes has been exceptional.

The above exceptions, the same law with 2 of the Income Tax Law meddesi Article 9 be made in accordance with the prescribed tevkifat is not relevant. A further explanation of the materials in question and by tax cuts and corporate tax to be paid to give prescriptive regulations application for tax exemptions envisaged (immunity) is not connected with each other.

On the other hand, Income Tax Law temporary Article 6 (8) number must hükümü paragraph as “the Capital Market Law” was established according to securities investment funds and securities investment partnership of the corporate income tax is exempt from the earnings of a portfolio, to be distributed are distributed 01.01.2006 from the date of the tax at a rate of 15 percent will be subject to tevkifat.

Therefore 01.01.2006 securities from the date of investment funds and portfolio management of the partnership and corporate income tax arising from the earnings of the immune hired at a rate of over 15 per cent will be tevkifat. However, regulatory requirements, the “risk capital funds and investment partnerships, real estate investment funds and are held exempt from corporate income tax of the partnership earnings have been left outside the scope tevkifat.”

01.01.2006 from the date of the portfolio securities investment funds and partnerships through earnings of the Income Tax Act 67 / 8 also a tevkifat will be made in accordance with Article.

Existing arrangements within the framework until 31.12.2005 only (B)-type defined as investment funds and a portfolio of partnership earnings received over 10 per cent rate of income tax in the tax from the date of 01.01.2006 securities associations between any distinction be made at a rate of 15 percent will be made. This will be done in the context of the person’s actual income tevkifat and legal entities, limited or full-taxpayers, is exempt from tax in terms of importance arzetmeyecektir.

Portfolio earnings over the institutions have made this the tevkifat amount, the operation of these organizations make cuts on the taxes paid by mehsup will be offset to an amount not to remain in their denial of this amount and will be returned.

Capital Market Act, established by securities investment funds (except for stock market investment funds) to fund participation certificates with the return on investment securities and partnership of the purchase and sale of shares in the revenue earned in any subject will not be tevkifat. Participation and partnership documents of these funds returned to the respective funds and / or shares of profits accrued from buying-selling commercial activities have been obtained under the condition will not be included in the annual statement. This is also the case for the declaration is not given.

Of securities investment funds from corporate income tax exempt funds that the stock market portfolio is kept in the Income Tax Law wins temporary Article 6 (8) numbered paragraph shall be subject to tevkifat coverage. This buying-selling of funds provided to join the earnings of banks or brokerage houses by 15 per cent coverage at a rate of around 6 substances will be subject to tevkifat.

What is the mortgage system?
Want your own you’ll have a home? Or to receive a new home soon Do you believe? If your answer is yes about the system that our Mortgage encourage you to read.

So, what is this Mortgage system and what will bring our country?
Mortgage system, such as paying rent, with monthly household budget figures have not shaken the opening of the road system. Mortgage system in our country to host millions of people who dream dreams buy kurduğu to provide housing, real estate market that will zing, construction quality will increase. In addition to the host will close the transfer of waiting to be retired, the young age of the host and home with 30 year maturity period will begin receiving credits.

How to handle mortgage system?
Mortgage system, you want to buy the house price will be evaluated by experts, the results of this assessment a decision given the amount of credit to get a down payment is deposited (usually the housing of the sales price is 25% of) the remaining amount to Mortgage, the credit provider to the 15 to 30 years between the change in the maturity with annual interest will be refunded.

Mortgage system to take advantage of what we do and what we need to be aware of?
We go step by step;
1. First, to determine the down payment can be paid. The higher the amount of down payment you will be paid on the mortgage system reduces the amount of debt, falls due, interest rates increases the chance for a bargain.
2. Monthly - quarterly - annual installments as the highest amount we could pay for various periods to determine. To be realistic when determining this number is the most important point. Unrealistic, we are confident we can pay the installments, which will lead to very difficult to back me on this point, we also will end.
3. Yes, our various accounts and make the down payment of installments after set, during the most appropriate organization and terms of credit will need to find. Yet not one of the points mentioned: Mortgage system, a single form of payment, not a single option. Wide variety of payment forms, a wide variety of choices available. For example:
a. Mortgage Credit during the period of fixed interest rate:
During the annual payment option mortgage interest rate is fixed. During the 30-year repayment period, such as annual interest of 7%.
b. Variable interest rate loans during the period of:
30-year repayment period of 7% during the first year, such as an increase in inflation rate for next year.
4. After selecting one of the mortgage options, the order be paid in advance of the closing costs or mortgage payments to the decision not been included. What is the closing costs? I seem to hear you said. Closing costs: Mortgage field, with the exception of people will have to pay credit to which home insurance, life insurance, referee costs, additional costs such as taxes and duties means.
These have come to the closing costs, to draw up a description here. Mortgage system in the press on the quality of construction, structural stability would contribute to Turkey’s new and existing construction of the mortgage system will be better news then you are literate. Mortgage system is because of the credit provider, credit due until your home insurance does not want to. So, what is the criteria to determine insurance premiums? Of course, you intend to purchase the building housing age, earthquake safety, Structure and stability of the document is not, the region’s earthquake risk metrics such as the house is.
All these criteria, the needle move in the negative, you need to pay an annual premium amount will increase. You be the one you prefer? Building age is high, earthquake safety - Structure of the document is not solid, an earthquake destroyed the building is a high risk because of higher premiums to pay, do not meet all these criteria, a solid move into the building and to pay lower premiums? I think 2nd sini. If you would like to buy a home, what happens if everyone thinks like you? Construction of a more robust, better buildings would be made. Or one that does not have reliability and will pay higher premiums does not want to buy the building.
As for other costs, you want to buy a first home is connected to a credit provider will be evaluated by experts. In line with the report of the experts give the highest number of credits is determined. This report will be prepared for expenses of experts shall be paid by you.
Mortgage life insurance provider during the term of credit you also might want to do. In this case of life insurance premiums will also need to add costs.
All these costs will change the housing on top of a purchase, depending on the rules you need to add up the costs. Will be to conduct a quick review of housing purchase, housing at the moment any need to pay when you buy the land specified in the official tax is calculated based on the figures. This figure, we move to buy mortgage system, the real value of the house will be over. Thus, by paying cash will be close in a period of take home, everything will be handled with real numbers. Is it possible to provide a contribution to us? I have to say, but the informal economy can be considered an important step to take gold records.
Important to specify a point immediately saw the benefits of the term abroad in these closing costs can be spread, the credit phrase in place. However, keep in mind that reimbursement of these costs will apply to is the annual interest rate.
Will bring long-term benefit of the mortgage system is one of the rental price is lower. Because anyone who has the possibility to rent instead of sitting in the mortgage system, such as paying rent and want to have your own house.
All this good or attractive sides of the Mortgage system, but should not be forgotten that a number of vital issues too of course.
First Mortgage system is not a miracle. Before entering into any debt burden to be considered under the issues, as required to the accounts, mortgage system is also fundamentally a borrowing system. Be realistic and pay all accounts under the debt burden must then be entered. Mortgage system in the functioning of the heart of the debt as money, acquired the name of housing mortgage loans and loans to home owners can not pay, their houses in exchange for debt, to sell at auction should not be forgotten. Therefore, if:
If you do not have a fixed monthly income •
• Consider the purchase value of the house is much more than you can pay
• Construction document robustness, reliability, such as earthquakes will increase your total costs have disadvantages
Think before you do a very good mortgage.
If:
• a fixed income have a monthly or regular payment installments can think of
• want to buy your receivables for the home loan to pay the installments of the rent is currently equivalent to or close
• want to buy the housing is greater than the disadvantages mentioned above have advantages
Mortgage options, we suggest taking a look.
Mortgage system in Turkey, the infrastructure works are not completed yet, the legal work is in progress. What is also true for Turkey this summer have to cut already. But basically, as described above is applied abroad.
When mortgage system will be activated?
Mortgage system in Turkey in 2006 had been expected to take effect at the beginning. End of the first phase of legal work will be created in the Mortgage companies, these companies want to buy a home in a variety of conditions that will provide home loans.
Writing that you want to buy before the end housing and more detailed information can be used to calculate can find I want to give an Internet address.
Take home system - http://www.evalsis.com address system on the Mortgage may find more detailed information on the site, the housing credit accounts using a variety of payment forms people can create.
Yes, I have to take loans and accounts to be done is a process. In the process, not tail, should not make wrong calculations.

European Union (EU) countries, as well as in the United States, to provide mortgage loans and mortgage securities to kıymetleş banks, building communities, building savings funds, commercial banks and savings banks, such as specialized financial institutions are available. Before too long on the past years, especially the “Mortgage Banking” system is widely used in all EU countries. However, second-hand in Europe the development of mortgage markets have been slower than the American example. The most important reason for the EU to prohibit laws that guarantee public support in the shape of the country as a result of public or public-supported organization has a central second hand does not. Such an organization was not in the market, the principal and interest payments to investors in a bank guarantee only high değerlilik or credit was given by experts and insurance companies as a result of the increased cost is caused.

EU member countries, the most advanced mortgage market that has first and second-hand country “Germany” is. Housing finance in the country often “Structure of Savings Fund (Bauparkassen), Mortgage banks (Hypothekenbanken) and co-operative banks” are available through. These organizations and institutions are purely private capital resources are used only in the form of long-term mortgage loans. They open the short-term credit was prohibited. Of mortgage loans in the country, but the percentage of securities kıymetleş a 24′lük. This rate, in June 2007 by $ 12 trillion, a close more than 50 percent of the mortgage credit market, some of the securities remains very low compared with the United States is kıymetleş. German housing finance system, which operates primarily in the mortgage banks in all institutions to provide long-term loans needed to fund the majority, “pfandbrief” is called “mortgage-based securities” are exported through.

England, in the mortgage market, with volume approaching 1.1 trillion euros in EU countries, Germany is in second place. As in Germany in the UK mortgage market is a big, but as of this market in June 2007 but the percentage of securities kıymetleş a 12′lik. This is the most important reason, since 1850′lerden operates in the UK housing finance market and mortgage loan that is used in the country of about 70 percent to “Build Community” (Building Socities) capability. Halifax, Nationwide, Bradford & BINGLEY, and leading leed Permanent structures such as communities, to provide the same services such as mortgage banks and mortgage credit only to activities and to do as a real estate brokerage is limited. Construction Communities, housing costs up to 90 percent of 20-25 year-term loans are given and their economic conditions of these loans every year according to the terms of the variable rate mortgage loans is variable.

In France in the 1980s to the end of the transition from the traditional securities kıymetleş the need to resolve the housing finance system for increasing fund was almost mandatory. State’s dominance in the French mortgage market fonlamaya the long-term needs due to fundamental legal arrangements have been made, the legal infrastructure of the securities kıymetleş to adapt to, and exported only special-purpose institutions (Fonds Commun de CREANCES-FCC) to be done through the estate with kıymetleş was possible to. In France in 2007 as of June, primarily variable rate mortgage loans of 470 billion mortgage market to have, even though mortgage-based securities practices kıymetleş desired level and not reach the market, but it’s 4.45 billion U.S. $ for a portion of securities kıymetleş . The most important reason is widely used in the country in the presence of variable rate mortgage is a loan.

In Spain, which is one of Europe’s oldest mortgage bank Banco Cario (current name of the Mortgage Bank of Spain) only to give mortgage loans was founded in 1872. Spain in the mortgage market and the combined savings banks, commercial banks and other financial institutions is working mortgage professionals. This organization of the United Savings Bank (Confederated Savings Banks) as of June 2007 in 604 billion of mortgage market has approximately 50%. Applications relating to securities in Spain kıymetleş a law adopted in 1991 had started with in 1993 based on first mortgage securities are performing the export.
European Union can be seen in a long time before roots-based housing finance system applications, and is today successfully carried out. In Turkey in the past if we catch these applications much more quickly compared to the EU will develop in the blood, yeterki economic and political environment that allowed it.