A seller received an offer on a building for sale, but the buyer has asked for seller financing. There are several risks involved in a seller-financed deal because the buyer might not be able to get a loan from a traditional lender. A real estate attorney is essential to ensuring a seller-financed deal goes through safely.
When you co-sign a student loan, auto loan, or mortgage, you become entirely responsible for this debt if your co-borrower stops making loan payments for any reason. So if the borrower stops making payments, your credit will suffer even if no one told you there was a delinquency on the loan. In addition, the lender will look to the co-signer for full restitution and you'll be on the hook legally for every last dollar due on these loans.
A 10-year ARM typically carries an interest rate that is fixed for the first 10 years. Compared with a 30-year mortgage, a 10-year ARM's interest rate will be slightly lower. These days the difference in the interest rate between the two loan types is very small.
The Senate couldn't pass a complete repeal of the estate tax. While there are enough votes to pass something, but isn't going to be a complete wipe-ou...
A homeowner is having repairs made to her home costing a large amount of money and considering using the equity in her home instead of cash. The cash can be used to make the repairs and an equity loan or line of credit can be open for emergencies. It makes more sense to use cash earning little interest than to take out a home equity loan at a much higher percentage.
Medicare may use your social security number to identify you. This Medicare patient is frustrated that Medicare is using her Social Security number on mailings that are out in the open. It's important to take action so Medicare understands the potential problems of using Social Security numbers so openly.
There are several places to go to find a qualified financial advisor to help you decide on retirement investments and estate planning. Flat fee financial advisors who can assist you on decisions dealing with retirement investments and estate planning is through the Garret Planning Network. The National Association of Personal Financial Advisors can give you a list of fee-only financial advisors who can help you make decisions on retirement investments and estate planning.
Should a homeowner take the proceeds from selling a business and pay off her mortgage? Paying off a mortgage is a good way to reduce your out-of-pocket cash expenditures each month. However, you have to make sure that you make enough by saving on interest, than you would if you invested the money. You also need to look at how much you will have to pay in taxes on the money.
Five years after the "as is" sale of her home, a seller is being asked by the buyer to pay for a new septic system. This bad buyer may sue the seller, but the suit won't likely win in court. In many states, the statute of limitations would have already expired and the buyer could not sue the seller for damages.
