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San Antonio Law Blog

How your lender could help you to avoid foreclosure

On behalf of Matthew J. Obermeier posted in Foreclosure Prevention on Friday, November 8, 2019.

If you have recently experienced an unexpected hardship such as the loss of a job or an illness that led to significant medical bills, you may be struggling to keep up with your mortgage repayments. If this is the case, you may fear that you could lose your home to foreclosure.

If you are facing the possibility of losing your home due to foreclosure proceedings, you should know that there are many options available. However, to benefit from them, you need to take swift action. The following are some of the ways that your lender could assist you so that foreclosure does not become a possibility.

Understanding community property in Texas divorces

On behalf of Matthew J. Obermeier posted in Family Law on Thursday, October 31, 2019.

Different states have different rules for how property is divided in a divorce. States either recognize community property law, or they follow the legal theory of equitable distribution. Texas recognizes community property law.

Community property law basically states that all marital property and debt is split equally between spouses. If you want to know how this will likely affect your Texas divorce, you should first consider what marital assets you own.

Dividing a vacation home in a Texas divorce

On behalf of Matthew J. Obermeier on Wednesday, October 30, 2019.

It's important to observe state laws when approaching a divorce. This is because state law dictates many crucial details such as the grounds for divorce and whether assets are subject to community property laws.

If you are getting divorced in Texas and you own a vacation property, it would be wise to understand how a divorce will likely affect your rights to the property before continuing the process. The possible outcomes will largely depend on what you and your divorcing spouse want to achieve. The following are some important considerations and potential outcomes.

Avoiding foreclosure by managing debt

On behalf of Matthew J. Obermeier posted in Foreclosure Prevention on Friday, October 25, 2019.

Getting into debt can be a vicious cycle in many ways. This is because on top of the everyday expenses you have, you will additionally have debt on your shoulders that you will need to address. In addition to the debt that you have acquired, you will also have to pay interest on your debts, which can make your expenses climb considerably.

If you have a mortgage on your home as well as credit card debts or medical debts, you will likely be feeling overwhelmed with keeping up with debt at the same time as paying bills and daily expenses. If you want to prevent foreclosure, it's a good idea to do what you can to manage your debts wisely.

How can I slow down the foreclosure process?

On behalf of Matthew J. Obermeier posted in Foreclosure Defense on Friday, October 18, 2019.

If you are facing the threat of foreclosure because of missed mortgage payments, you will likely have a desire to pause time so that you can figure out the right path to take. Foreclosure can be highly stressful, not least because those facing it often have additional financial issues.

If you are worried about foreclosure, the best thing that you can do is to take action now. The first thing you should do is to fully understand the situation that you are currently in. By taking action to slow down the process, you will be able to gain more time to work on a defense.

Many issues common in a high-asset divorce

On behalf of Matthew J. Obermeier posted in Family Law on Friday, October 11, 2019.

All divorces are unique. This is because divorce is defined by the dynamic between the divorcing spouses, but also factors such as whether there are children involved and net worth. If you have a high amount of assets in your marriage, the divorce is likely to be more complex than average.

The more assets that need to be divided, the more complex the process can be. The following are some issues that can arise in a high asset divorce that you should be aware of.

Evaluating the tax implications of different business entities

On behalf of Matthew J. Obermeier posted in Business Law on Friday, October 4, 2019.

If you are preparing to start a new business, one of the first things that you will need to do is choose a business entity. The type of business entity that you decide to pursue will certainly have tax implications for you in the long run. This is why it is important to conduct research upfront so that you know you are making the right decision for your business goals.

The following are some of the most common types of business structures, and an overview of the tax implications that they have for business owners.

The link between divorce and mental health

On behalf of Matthew J. Obermeier on Thursday, October 3, 2019.

The health of any relationship is usually defined by the mental health of the people within it. It's common for those going through a divorce to have had struggles with mental health in the past. They may have been feeling insecure or unfulfilled in their marriage, and as a result, tensions may have risen between spouses.

In addition to mental health issues being a potential catalyst for divorce, it is also possible for the opposite scenario to be true. Divorce is an extremely stressful and upsetting time for everyone involved. Many newly single people feel that they are lost without the emotional security of their marriage, and this can give rise to feelings of depression and hopelessness.

Creative ways to avoid foreclosure

On behalf of Matthew J. Obermeier posted in Foreclosure Prevention on Wednesday, September 25, 2019.

Budgeting your finances does not seem to be one of the most creative activities. But being great at managing money and your finances does require some creative thinking. If you are worried about the possibility of foreclosure in the future, it's time to stop thinking of the most obvious courses of action and start thinking creatively about what you can do to solve your financial issues.

The following are some less obvious but highly effective ways to possibly avoid foreclosure as someone who is going through a period of financial difficulties.

How do I set up a trust for my children?

On behalf of Matthew J. Obermeier posted in Estate Planning on Friday, September 20, 2019.

If you know the basics of estate planning, you will be aware that the sole use of a will is often not the most efficient way to distribute assets at the end of your lifetime. Assets mentioned in a will shall go through the probate process, which is not the most cost and time-efficient way to distribute your wealth.

This is why many people decide to hold a significant portion of their wealth in a trust with a named beneficiary. This helps to avoid the probate process and streamlines the ease in which your assets will be distributed to your loved ones. If you want to set up a trust for your children, you should consider the following.