If you are behind in your mortgage repayments, you have probably started to hear from your lender, and they may have threatened you with foreclosure. Foreclosure essentially means losing your home and the repayments you have made in the past. It also leads to a poor credit rating and therefore a difficulty in getting a home in the future.
Cookie-cutter estate plans often are not as effective as personalized estate plans. This is because they cannot possibly address every person’s unique situation and estate planning goals.
Having shareholders in your company is a great way of getting an adequate amount of funding. It will also help you bring in people with different areas of expertise that will help your business thrive.
Life can become very stressful when you are struggling to make enough money each month to pay your mortgage. If you have a family, you will be worried about their future in this situation, as well as the prospect of losing your home.
Foreclosure proceedings on a commercial property tend to work in the same way as residential properties, but the stakes are often much higher. Losing a commercial investment to foreclosure could have a detrimental impact on your entire business, therefore you must take early action to gain a comprehensive understanding of your options.
When you think about high-value assets, you likely think of real estate, investments and perhaps even cash that you have on hand. You want to divide your financial assets up properly, which mean selling physical assets -- the house -- to split up the value.