While the Ontario government has provided a health care plan for its citizens for many years now, there is still debate over whether or not they are doing enough for health care overall, particularly in comparison to the rest of the country. In fact, the auditor general of Ontario, Jim McCarter, released a report this Monday that indicates there are actually a wealth of problems in the current Ontario health care system, from crumbling colleges to inaccurate property tax assessments to unnecessary stays in the hospital.McCarter focused much of his assessment on the state of health care in Ontario, and he discovered that at least 50,000 patients in Ontario had stayed in hospitals for longer than they needed to in the year 2009 because there were not nearly enough home care services and long term care beds. McCarter indicated that this problem is only likely to keep growing as people in Ontario inevitably become older.McCarter stated that 13 per cent of the population of Ontario is made up of people who are 65 years of age or older, but almost 60 percent of the days patients spend in hospitals in Ontario are consumed by people over the age of 65. Furthermore, in the next two decades, there are expected to be twice as many seniors in the Ontario area as there are today.These results suggest the Ontario government is not doing nearly enough to provide for the health care of its citizens. Last year, about half of the patients in Ontario hospitals who could have been released from those hospitals to receive additional care at home were required to stay for at least six more days, on average, in hospitals, before they became eligible to receive health services.Wait times within hospitals were found to be another area of concern in Ontario health care. The assessment by McCarter found that there are still a lot of people who are receiving delayed service and having to suffer through extended waiting times in emergency rooms in Ontario hospitals because of the trouble the hospitals have in freeing up beds of patients still in the hospital.In fact, some people who had serious conditions that required emergency care and assistance still had to wait for up to 12 hours before they could receive proper medical care. The goal in such situations is to have patients wait no longer than 8 hours, but they ended up having to wait 50 per cent longer in some cases. The province of Ontario has already spent in excess of $200 million between 2008 and 2010 in their efforts to improve the wait times in emergency rooms.With such deficits in the condition of Ontario health care, it is no surprise that people have begun to look into private health insurance options such as an individual Ontario health insurance plan. It simply is not right for people to have to spend extra time in hospitals and away from their families due to bureaucracy on the part of the Ontario government. A change is clearly needed, but it is unclear as to how long it will take before this change is put into place.
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Commercial Subprime Mortgages
Although there is really no “commercial subprime mortgage” sector like there is in residential, there are 3 types of commercial mortgages programs that are designed for borrowers with difficult situations.These loan programs include:1. Stated income commercial loans
2 . Commercial hard money
3. SBA 7a loans.Commercial Stated Income LoansCommercial stated Income loans were designed for businesses or investors that do not show enough income on their tax returns to qualify for traditional loans. For example restaurants, automotive repair or other high cash businesses are prime examples of business that often make enough money to support the mortgage debt, but owners often do not report all earned income on their taxes.The primary benefit of this program compared to other “subprime loans” is longer fixed period, with 20- 30 year amortizations schedules and high leverage (often up to 75% on refinances and even 90% loan to value on purchases).The negatives include high prepayment penalties and rates are often 2 -5% higher than typical bank financing (though it won’t be available to a borrower that didn’t show enough income on their tax returns to qualify).Commercial Hard MoneyCommercial hard money loans are the ultimate “commercial subprime” loans for investors and occasionally for business owners. Hard money lenders are really interested in properties equity or the properties ability to pay the lender back in case of default. Loan to values rarely exceed 65% and values are often further reduced by tough appraisals.The primary benefit of hard money is the speed in execution (3 weeks to close is not unusual) and lenders do not generally care about credit scores. The negatives with hard money include interest only rates in the 12-15% range with points in the 3-5% range.SBA 7a LoansIf hard money loans are the ultimate “subprime loans” for investors, the SBA 7a loans are the ultimate for business owners. Highlights include the ability to refinance up to 90% loan to value, credit scores as low as 500 are acceptable, and debt coverage ratios can be as low as a 1.1 – with the ability to use projections for future income.Common objection to the SBA 7a program include the floating rate and expensive guarantee fee that the SBA demands. Both of these negative characteristics can be eliminated though, for example there are banks that offer a 5 year fixed version with the ability to roll the guarantee fee into the rate.
Internet and Businesses Online – Making Money Online
Making money online has become a fast growing trend these days. More and more people now look to the internet to reach people. These are prospects that never existed before, and now the opportunity to turn them into customers is here because of the power of the World Wide Web.This steady rise of doing business online and the number of people who now rely on the internet and online businesses to provide them with what they need in terms of products and services is slowly changing how the world views businesses and how they run it.Usually, what it took in the past to run a successful business is to be good at what you do or have a good product to sell and to market it through radio, newspaper and other mediums to get people to patronize your goods or your services. These days, running a business online can mean so many things and can reach so many people that having a business up and running can actually be done in a matter of hours even when you do not have your own product to sell.You can have a business online and make money from home by selling other peoples products and receive a commission from each sale. You can also have a business online by selling your skills and expertise like writing, graphic art, and programming to people around the globe. You can sell expertise online to other businesses with outsourcing businesses and joint ventures. You can make a lot of money from this opportunity without having to get out of your pajamas or setting foot outside your home.