Bankruptcy attorneys are an essential element to obtaining court approval in both individual and corporate cases. Individuals are allowed to file petitions without legal counsel, but companies must have a legal representative. Although bankruptcy attorneys are not required for personal bankruptcy, filing without legal counsel can be a costly mistake. New guidelines enacted under the […]

Subject to is a realty contract used when buyers take over another person\’s mortgage payments. This strategy can be a good option for credit-challenged buyers who do not qualify for bank financing due to insufficient credit scores or lack of down payment funds. With Subject to contracts property rights are transferred to the buyer, but […]

Take over payments is an option that requires buyers to assume payments of an established mortgage loan. This strategy is often offered by investors when selling a property to buyers with bad credit, but can also be used by property owners as well. Before entering into take over payments agreements, buyers should first determine if […]

Anyone undergoing the foreclosure process knows the heartbreak of losing their home. Everything about real estate foreclosure can seem confusing and overwhelming, not to mention frightening. The foreclosure process often causes people to become paralyzed with fear and unable to move forward. With a basic understanding of what to expect, evicted homeowners can be better […]

Forbearance in bankruptcy is a unique situation that often requires legal counsel. Forbearance agreements are sometimes offered to borrowers who have defaulted on secured loans. Banks grant borrowers permission to skip a few loan payments and agree to not move forward with foreclosure proceedings. Forbearance in bankruptcy can have serious ramifications because lenders may render […]

Bank owned property refers to real estate that has been repossessed by lenders due to loan default. Bank repossessions can include residential homes, commercial properties, industrial parks, and undeveloped land parcels. Buying bank owned property can be a tedious process because the sale is overseen by the lender. Since banks typically price foreclosure property below […]

Qualifying for a mortgage after bankruptcy requires borrowers to engage in credit repair strategies to improve FICO scores. Those who resolve credit issues might qualify for a home loan within 2 or 3 years if they fulfill Chapter 13 payment requirements. Otherwise, it could take as long as 10 years to qualify for another loan. […]

Starting a business is no easy task. Several considerations must be given long before opening the doors. For any business to survive and thrive requires substantial research and planning. In addition to conducting market research, owners need to develop a written plan that outlines short- and long-term goals. Starting a business without a written business […]

High interest savings account refers to accounts that pay a higher rate of interest than traditional savings. While the term \’high interest\’ is somewhat of an oxymoron, those deemed as paying a higher rate of interest will yield account holders with around .75-percent more than a regular account. It is helpful to compare high interest […]

Buying real estate owned by banks can be a good option for investors, as well as buyers seeking affordable properties. This might not be the best choice for first time home buyers simply because the process can be complicated. Real estate owned by banks can include residential homes, condo, townhouses, manufactured homes, and commercial realty. […]