Do you know when you should file for bankruptcy? If you don’t, the best thing to do would be consulting a bankruptcy attorney. Hiring the attorney does not show that you’re giving up on the situation. It simply shows that you’re ready to buy yourself some time to rectify a temporary situation before standing on your feet again when circumstances change. The attorney is the one you need by your side through what might be one of the hardest challenges you ever had to deal with in your life.
So, how does the attorney help?
Guides towards the right decision
First, he guides you to make the right decision. He does this by explaining the difference between Chapter 7 and Chapter 13 bankruptcy so that you know what’s good for you. He explains that Chapter 7 helps you to get rid of all unsecured debts. On the other hand, filing a Chapter 13 bankruptcy accords you more time for repaying the debts. The attorney helps you to choose the best option. He helps you to choose the option that allows you to save more money. He guides you to learn the tricks for eliminating most of the debt.
Saves you from harassment
A bankruptcy attorney saves you from the harassment that are too common in such situations. It’s almost impossible to enjoy some peace of mind during bankruptcy proceedings. The fact that creditors keep calling and disturbing you all the time asking about your plans for settling the debts you owe them is enough to turn you into a sour-face. A visit from the creditors to your home or office is a form of harassment. The moment you bring the attorney to your side, the creditors receive a notice to leave you alone. The creditors reach you only through the attorney.
Saves you from fears and anxiety
It’s normal to be fearful and anxious when you owe people and organizations money. The future seems bleak and nothing feels you with excitement. The actual process of filing for bankruptcy is enough to fill a once courageous individual with fear and uncertainty. Meeting with the creditors to tell them how you plan to repay them can be a dreadful experience. Nonetheless, with the bankruptcy attorney on your side, you will have a much easier time with all these issues, thus allowing you to focus on other equally important issues such as family and work.
Simplifies the process
The process of filing for bankruptcy can be quite complicated. Therefore, there’s always the chance that you will make a mistake in one of the stages. This is where you need the intervention of somebody who understands the entire process. The attorney knows all that’s required. He can help you avoid wasting time and money. For example, you may file for Chapter 7 bankruptcy when what you needed was to focus on Chapter 13 bankruptcy in the first place. There is a big difference between the two.
Therefore, the next time you’re wondering whether it’s worth it to hire a bankruptcy attorney, you should remember these benefits. The attorney is more knowledgeable and has the resources needed to help you through this phase of your life. It’s to your benefit to look for an experienced and qualified attorney to help you understand the differences between the various types of bankruptcies so that you know what’s good for you. Get in touch with one right away and enjoy peace of mind.
The health insurance industry has proved difficult to navigate for many people. It becomes even harder when you have to choose one that best suits the needs of your family. Nonetheless, you can find the best one with a bit of time and money spent on research. Identifying experts to help you find the best plan is also highly advisable. Reading different literature from several health insurance providers is a good strategy as well. Most importantly, here is what you should do to find the best health insurance plan for your family:
First, you can consult experts such as Takaful Malaysia. The experts know the plan that’s most suitable for your family. After all, they have been in the industry for years. They have interacted with families with needs that are similar to yours. An employee finds it easy to get the best plan most probably because he relies on the decision that his employers makes for him. He has no choice other than to work with the plan the employer has chosen for him. Employers and the self-employed, however, have to rely on experts and make their own decisions.
Compare different plans
Comparing the different types of health insurance plans that are available in the market is a good move. In fact, you should ask for and obtain information on as many plans as possible. After that, sit down to pore through each plan with the attention of a surgeon. Some plans are common to specific groups of people. Find one that’s perfect for you, but only after comparing from a large pool. Looking for a summary of the benefits of each plan helps you settle on a single one. Use the Internet to check the summary of benefits.
Compare different providers
Comparing the companies that provide health insurance plans is highly advisable. Some providers charge cheaper rates when you visit an in-network doctor. Therefore, ask about the in-network services and features of the plan. The out-of-network doctors are not only costlier to you, but also to the insurance company. Ask the provider whether you can include your preferred doctors in the plan you wish to choose. Speak with your preferred doctor too to learn whether he would be open to this idea.
Check out of pocket costs
Never ignore the out of pocket costs when looking at the best health insurance plan to choose for the family. It’s tough finding a provider that’s willing to cover the entire procedure of seeking treatment and medication for all the ailments that your family suffers. Some plans and providers require you to pay more out of pocket expenses to enjoy the full treatment. Some plans and providers require that you pay something small. Some of the insurance terms you have to be familiar with while looking at the issue of out of costs include:
Takaful Malaysia is an excellent provider. Consider asking this provider for more information to help you find the best health insurance plan for your family. Nevertheless, the information published in this article is helpful and can point you towards the right direction, thus making your task much easier to handle. Remember to compare the benefits that each provider list with their plans. As long as you follow this guideline, choosing what’s good for your family will never be an impossible task.
As you already know, the primary purpose of buying life insurance plans is to make things easier for your beneficiaries when you’re no longer able to work and earn some income. The companies that provide such services, such as Takaful Malaysia, first evaluate your life to try and predict the problems you’re likely to encounter before recommending any solution. Life insurance is all about fending for your children when you’re no longer able to work. Some insurance companies have developed a new product known as child insurance, which is different from life insurance.
It carries dual benefits
One of the biggest attractions of child insurance is the dual benefit they carry for the child. The first benefit they present is to generate a good corpus from investing the premiums in funds. The funds in question here could be either ULIP-based or endowment-based. The second of the dual benefits is that the insurance provides a cover to the parent who invests in it on behalf of the child. The beauty of the second benefit is that the cover is for life. This has the following impact on the policyholder in case he dies:
- First, the insurer waives off all future premiums
- Second; the insurer continues investing in the fund on behalf of the policyholder
It protects the child’s interests
Child insurance protects the child’s interest even when the father or mother is no longer around. It guarantees the child a lump sum payment or period amount. The period amount helps in the child’s maintenance. The child insurance is a great product for parents who struggle to save money on their own without any form of compulsion. The insurance compels the parents to set some money aside to cater for the needs of their children. It trains parents to be responsible and dedicated to saving money for their kids until the little ones can make their own decisions.
It grows with the child
Parents must buy child insurance as early as possible. This is because the money set aside for this type of insurance needs plenty of time to grow. In fact, the best scenario is one where you begin comparing different child insurance plans immediately you learn that you’re expecting a child. The child should enter the world with an insurance product or plan that you have already purchased under his/her name. By starting early, you get the chance to worry less about your child’s future in case something happens to you thus making it impossible to be with him/her.
As a parent, you owe it to your kids to give them the best footing or start in life. A child insurance plan offers you the chance of doing just that. The smart actions you take today will attract the child’s admiration later when he or she is fully grown and able to comprehend the importance of having insurance. The child needs a proper footing to give him the best chance of enjoying a successful career. He needs his finances to be in order. Make this decision on behalf of your child by speaking with Takaful Malaysia about child insurance.
Improving your credit scores by more than 100 points is possible. As is the case with everything in life, starting off is always the biggest challenge. Once you begin, your goals will be achievable. Improving credit scores is a task you ought to take seriously. This is because poor credit scores can affect you financially for a long time. A credit score of around 620 is generally bad. Therefore, your goal should be to improve it to around 720. With a credit score of around 620, you will struggle to find card issuers or lenders who charge you a lower interest rate.
So, what smart money secret should you apply to improve the scores by more than 100 points?
Eliminate the errors
First, focus on knocking off any errors that you see with your credit scores. You can see the errors of your way from any of the main credit reporting bureaus. Interpreting the reports might be hard. Therefore, ask for assistance. The Federal Trade Commission discovered that around 5 percent of consumers walk around with at least an error on their credit reports. The sad thing is such errors could mean paying a higher price for a financial product. You should never keep quiet with mistakes that you notice in the credit reports. Dispute them with the right personnel.
Pay bills on time, all the time
Second, make it a habit of paying all your bills on time. Do this all the time. In fact, your responsibility is bigger if you’re part of the group that walks around with serious errors on the credit report. Study the reports from bureaus such as Equifax, TransUnion or Experian. Study them to identify any account that’s past the due date. What you may not realize is the role payment history plays in credit scores. You can maintain healthy rating as long as you develop a habit of paying all due accounts on time by putting an end to postponing or defaulting your payments.
Stay within the credit limit
Third, avoid surpassing the credit limit. In fact, avoid approaching the limit irrespective of the amount of pressure you feel. As previously stated, your payment history plays a crucial role in determining your credit scores. Similarly, your credit utilization also plays a significant role. Focus on paying off the credit cards, especially if you discover that they approach the limits. Whatever you did in the past regarding credit utilization doesn’t matter. What is important is the current credit utilization. Maintain your balances to less than 30% of credit limits.
By following these guidelines, you can improve your credit scores by more than 100 points in a month. To do this, you would have to focus on moving from 100 percent credit utilization and ten credit cards carrying balances to 0% credit utilization and zero cards with balances. This would also require a hefty financial base. If you lack the finances to pull such a feat off, the next best option would be applying for a debt consolidation loan. However, use these smart money secret strategies while not repeating your past mistakes after taking the debt consolidation loan.
It’s possible for a small business owner to manage his finances well without any external intervention. You can do this with the help of some software programs. Some of the programs are available online at a fee while others are free. You don’t need much experience or financial background to manage your finances well or use these software programs correctly. Nevertheless, hiring an accountant is something that you can’t keep postponing for too long. At some point, you will have to hire MKS accountants in Darlington, especially if you notice these signs:
Unfamiliarity with Accounting Principles Hampering Your Progress
Financial statements can leave you feeling confused. You might go through a torrid time trying to prepare financial reports. When this happens, your best bet would be to go all out, searching for and hiring a qualified accountant. You may not need the accountant for the rest of your life as a small business owner. However, this financial expert is knowledgeable on everything concerning accounting. Therefore, hire and learn from him during the initial stages of the business. Learn the accounting ropes from him.
Unknowledgeable about Taxes
Tax issues are not easy to understand. The tax code in the United Kingdom is too complicated for a person with little knowledge on such matters to comprehend. Lack of comprehension could lead to massive mistakes later as you try running the small business successfully while meeting your tax obligations. A qualified accountant understands the tax code backward and forwards. Penalties and fines the tax bodies levy on you could cripple your small business. The accountant is helpful in the following ways:
- He provides timely advice to help you comply with all tax codes and regulations
- He informs you of all the tax deductions and credits you should take
- He predicts the taxes you’re likely to owe the HMRC thus helping you to plan well
- He’s capable of filing the tax returns on your behalf
Bookkeeping proves destructive
Your sole focus should be on running your small business successfully. You don’t need too many distractions. Unfortunately, bookkeeping tasks can be a distraction, thus making it harder for you to focus on the core operations of your business. Some of the goals you ought to concentrate on include spreading the business into new territories and acquiring new clients. Don’t take your eyes away from building a team, innovation or winning more business. Hire an accountant to have a clear understanding and strategy for achieving your tasks.
Other factors that should convince you of the need of hiring accountants include the business’ rapid growth, profit not growing as much as the revenue, and investors demanding professional financial reports among others. Your business needs an accountant each time you want an audit from a professional. Hire an accountant when planning to sell the business or buy and sell properties. The accountant is your ally. Look for one with a stellar record and reputation. Look for one with the experience and training needed to offer top notch assistance. Therefore, hire MKS accountants in Darlington when facing the situations highlighted above.
Interest rates on mortgages are expected to rise in 2016 and beyond. Some banks are reducing or cutting the rates down, but this won’t have too much influence on the general trajectory the mortgages take. Mortgaging a home can take several years. In fact, you might finish mortgaging the home when all your children have finished college and have started their families. Despite this, you should not abandon doing the following while mortgaging the home:
Boosting your credit worthiness
Lenders value your credit worthiness. They want to see whether you’re worth giving access to the credit facilities, which you need to mortgage your home successfully. Therefore, use every opportunity you get to improve your credit worthiness. This involves paying your dues on time and settling all outstanding dues. Avoid taking credit when you have the money needed to buy an item or pay for a service in cash. This way, you reduce your risks of defaulting.
Set money aside for making down payments
Setting money aside for making down payments is a good habit that you should develop while mortgaging your home. In fact, you should form this habit before you begin mortgaging the home. A down payment of around 20 percent is the norm. However, most lenders have no trouble asking you for a down payment of around 3 percent. Approach the lender confidently with the money you saved for a down payment and see your request for a mortgage, win approval.
Obtaining pre-approval should be your priority before you begin house hunting. Pre-approval simply allows the lender to evaluate the money you qualify to borrow based on the kind of home you wish to buy and live in with your family. Pre-approval opens your eyes to more possibilities you never imagined were possible. Pre-approval helps you to plan and budget or make adjustments based on the kind of house you wish to buy.
Search for legitimate and reputable lenders
Today, the number of lenders operating in the mortgage industry has grown exponentially, thus making it hard to choose the right one for you. Base the choice of lenders for your needs. If you do this, you will end up with some very good interest rates. The rates the lender gives you will not hurt your finances. Spend time asking various lenders for estimates of the mortgages and loans you wish to take. Choose the most suitable lender for you.
Research different types of mortgages
The market is full of the various types of mortgages. Knowing what you want before going for it is highly advisable. Set time aside for research on what’s on the market. Choose a mortgage facility that suits your needs perfectly. If you do this, you will have no reason for worrying about getting the most out of the mortgage. Moreover, the loan will help you address all your needs as well as requirements. The different types of mortgages you can choose can include:
- Refinancing existing loans
- Variable rate mortgages
- Fixed rate mortgages
- Interest only mortgages
- Construction mortgages
- SMSF mortgages
- Low doc mortgages
- Reverse mortgages
- Bridging mortgages
Therefore, get a finance broker in Perth to help you choose the best mortgage.
Buying a house is something that more people want to do. In fact, most people who buy homes will not make any other bigger financial transaction than that in their lives, according to the National Association of Realtors. This explains why it’s important to spend time and effort identifying the mistakes worth avoiding while hunting for a house. Otherwise, you might only succeed in throwing good money away and end up with a huge hole in your finances. It’s crucial for the buyer to be devoid of emotions when buying the house.
That said, the mistakes you should avoid while hunting for a house include the following:
Loving what you can’t afford
First, look at your finances. All the decisions you make on whether to buy a particular type of property should hinge on your finances or lack thereof. As previously stated, buying a home is an emotional process. So, you’re likely to give in to your emotions only to realize that you lack the money needed to live reasonably well after buying a home. This path can take you into a debt crisis and affect your credit scores too. The jetted bathtub, attractive tree-lined streets, and spacious kitchen in your dream home shouldn’t convince you to buy if you lack the money.
Limited to only one option
Second, it’s bad for you to assume that what you see is the best in the market. This often happens when you buy a house in a rush without conducting any kind of research. According to Bankrate, many homebuyers only realize that they bought a money pit much later. Often, this happens when buying a home without any form of research or doing it hurriedly. Simply because the mortgage looks affordable doesn’t mean the house located in an amazing neighborhood, which your agent considers a bargain, is worth buying.
Buying out of desperation
Buying a home out of desperation is one of the worst mistakes you will ever make. This often happens after you have searched for the real estate for sale in Prescott AZ without much success. Even when you haven’t found anything worth buying or interesting enough isn’t a good reason for you to buy out of desperation. Trying to get rid of a house that you realize isn’t what you wanted in the first place is a costly affair. According to the Washington Post, the transaction fees and real estate commissions could drive you up the wall.
All flaws are minor, cheap and fixable
Lastly, ignoring or overlooking the flaws the house has could prove costly for you in the end. In many cases, the flaws you consider minor might cost thousands of dollars or take too much time to fix. Many of the flaws are not only difficult, but also expensive and impossible to fix. Before making any commitment, spend time going through your options. This might just convince you to wait a bit longer until a better property enters the market. When it comes to buying homes, you should remember that you’re never short of options or running out of time.
Therefore, remember these mistakes when searching for real estate for sale in Prescott, AZ.
A homeowner who wants to file for bankruptcy should first consider the impact of this move on his property ownership. The issue is serious if you still pay mortgages. The handling of your mortgage during bankruptcy proceedings hinges on several factors. For example, it hinges on whether you file for Chapter 7 or Chapter 13 bankruptcy. A bit of discussion with your banker, financial manager, mortgage service provider or bankruptcy attorney should help clear this matter for you.
Stop making assumptions
It’s wrong for you to assume that all is well. If you do, don’t be shocked to learn that you face foreclosure. Furthermore, it’s worth mentioning that going bankrupt influences your ability to retain ownership over your property. Therefore, you have to set time aside to evaluate the whole situation. Learn what happens or is likely to happen the moment you’re declared bankrupt. For the most part, especially if you own the home you live in, the bankruptcy trustee or official receiver will prefer selling your home to settle your bankruptcy debts.
How to stop the sale
However, even if you know that the receiver will sell your home, you can still do something to make it impossible for this to happen. You’re not entirely hopeless in this situation as you think. You can prevent or delay the process. You’re eligible to stop the receiver from selling your home if you live with your family or dependents. In such situation, you will be given some time (grace period) to do something and find alternative accommodation for the family or dependents. It’s good to confirm this with your Atlanta bankruptcy attorney first.
Understand bankruptcy estate
The attorney should educate you on issues such as bankruptcy estate. The estate is something the bankruptcy court creates the moment you file for bankruptcy. In such cases, the court assumes all the rights and powers to administer your assets, which include the home. The creation of the estate applies when you file for Chapter 7 bankruptcy. However, the law dissuades a homeowner from selling a house that has no equity, so if you are in Atlanta, for instance, you should search out the best bankruptcy attorney in Lawrenceville and figure out your options. In fact, such circumstances convince the trustee to abandon your home and forget about selling it to pay off the liquidators.
How to save your home
You can save your home in bankruptcy. The moment you file for bankruptcy, the law makes it hard for creditors to form a beehive waiting to sell your property off to raise money for settling the debts you owe. Therefore, you can leave comfortably in your house without having to worry about your status or rights as an owner. The prohibition by law makes it hard for you to face foreclosure, repossession, calls and all other forms of collections. However, as your Atlanta bankruptcy attorney will tell you, the automatic stay order only lasts a few months.
Finally, you can save your home by coming up with a repayment plan for settling the mortgage arrears alone. If you file for Chapter 13 bankruptcy, it will take you several years to repay the mortgage arrears. A homeowner whose mortgage arrears total $50,000 can repay it fully in 60 monthly installments. In such instances, you don’t have the luxury of defaulting. You may need the assistance of the Atlanta bankruptcy attorney in this matter too. Therefore, call the attorney today.
Investing in a new piece of real estate is great news if you want your family to have its own little space. The main purpose of buying a home is to have a place to live in. Some people buy homes for rental purposes. Others buy properties that they can improve and resell. Irrespective of your reasons for buying the new home, what’s not in doubt is that you will need mortgage services to afford it; hence, a good reason for hiring a mortgage broker or a finance broker in Perth.
A mortgage broker is different from a bank. Many people would rather rush to their banks when in need of a home loan. According to a growing number of financial experts, dashing to the bank all the time denies you the opportunity to enjoy many benefits. At times, working with a broker has more benefits compared to going to the bank. In addition to the help that the broker provides processing paperwork on your behalf, the other benefits include the following:
- Increased Choices
When you go to a bank, your options are only in that single institution. When you’re before a mortgage broker, you have more choices of financial institutions to choose from. Brokers have connections with several banks. They’re well connected with tens of mortgage products. In this case, the brokers offer you an increased number of banks and mortgage products from which to choose.
- Years of Experience
Brokers are in charge of their own businesses. They make the final decisions. Therefore, the brokers are more likely to help you compared to your current lending manager. Furthermore, the broker you work with stays with you for the long haul. With banks, you’re never sure if you will find the lending manager you spoke with over the phone a couple of days ago. This is because banks keep changing or transferring their workers all the time.
- Specialized Professionals
A mortgage broker is a specialized professional. He provides all the specialized assistance that you need with your loan. Bank personnel rarely have the training needed in the one area where you require assistance. Bank personnel are required to be all-rounded. For example, if you need help with property investing, you will receive all the assistance and more by working with mortgage brokers who specialize in property investors or investments.
It’s costly for you to follow-up the loan application all the time. It frustrates that you can only receive feedback if you call the bank to inquire about the progress of your loan application. Working with a mortgage broker saves you from the frustrations and waste of money or time. The broker follows up with you. He takes the initiative to call and inform you about the progress of your application. He calls to inform you about new products that are worth considering.
- Personal Banking
Finally, the mortgage broker or finance broker in Perth is like your personal banker. The services you derive from the banker are unmatched. The broker knows what needs to be done. He makes sure that everything you need happens at the right time. They are in the boat with you until you reach your destination. They help you through the financial storms that you face. You cannot find this with a bank employee no matter how good he is.
Let’s be honest here, for the majority of people, doing their finances and book-keeping is a chore that very few people relish. But the fact remains that your accounts are probably the number one component when it comes to running your business. It is very difficult to make investment choices and decisions, when you have no overall grasp on the financial side of the company.
If you are not prepared to spend the time doing your accounts, in fact even if you are it is still very beneficial to invest in the services of a great accountant. Living in London myself I utilised Google and searched for “accountants in Ealing” as that is relatively close to both my home and work addresses.
When choosing an accountant, I feel it is still one of those services that need to at the very least have the possibility of sitting down face to face over the table to discuss things. The internet may have made the world smaller and enabled remote working, but when you are discussing your finances and other such personal matters nothing can beat a personal meeting. Prior to employing an accountant, book a meeting with them and ask yourself honestly if they are someone that you would like to work with. An accountant should be your critical friend, there to guide you but also direct you onto a path you may not necessarily wish to travel. It is therefore important that you have faith and trust in their advice, and that they are able to explain clearly to you the reasons behind their advice. Never follow anyone’s advice blindly, it is your business and therefore your responsibility to have at least a basic understanding of the advice being given.
A good accountant can be many things, but first and foremost they will be fully aware of the various rules and regulations. They will work for you to ensure that you can claim all of the benefits and rebates to which you are entitled, but they will also keep a close eye on your bank to make certain that you are not over charged in any way shape or form.
Anyone who has ever run a small business knows that it can consume your life, and all too often it is the financial aspects of the business that get overlooked, which ironically tends to be the most important facet of any business. Once you have a good accountant on board, then they can concentrate on the financial aspect of the business, leaving you to focus on driving your business forward.Make certain to retain any and all documentation for any income and expenditure your business makes, as your accountant will require this to complete all the required returns.
When choosing an accountant, it is always beneficial to get a personal recommendation from someone you respect and trust. Particularly if that person is a successful business person. Their recommendation holds a lot more weight than a stranger’s viewpoint written on Google. To put things bluntly your choice of accountant could well be one of the most important vacancies you fill, to ensure that you are 100 percent confident in your choice of candidate.
One of the biggest issues for any business is cash flow. Whether it s a new business or a well established one, there will always be costs most notably staffing and rent. Staffing costs are a matter for another post, in this post we want to drum down and look at how to choose the right office building for you.
Austin Texas is currently a hot bed of business activity and growth. As a consequence Austin office space for rent is at a premium, but that doesn’t mean you should be rushed into renting a property. While an office and its location may not be quite as crucial to your long term business as a retail outlet, it is still important to be central, and be in an area where staff will want to work. Should you ever need to bring a client back to your office for a proper business meeting you also want the office to look presentable and provide a good impression of the company. Here are a few other things you might want to consider –
As was mentioned above, the rental cost of your office could end up being one of your highest overheads, so it is important to ensure that you get a great deal at the start of your lease. Do some research and find out the comparative prices of other properties. Don’t get obsessed with one specific property and lose control of the financial aspect. When all is said and done, this is simply a base for your business and you don’t want it to become an anchor around your neck.
In this day and age, there are very few businesses that don’t need to be on the Internet. It is therefore really important that you check the location for internet speed and reliability, as well as cell phone signal strength. It would be a disaster to move into an office, only to find your cell phone had no reception.
This will be more relevant in certain areas than others, but for the purposes of recruiting and retaining staff, it is certainly worthy of consideration. Even if public transport is not an option, are there sufficient parking spaces for the office, and will your staff feel safe coming to and from work.
Find A Great Commercial Real Estate Broker
Perhaps the most important decision of all is to find yourself a good commercial real estate agent. The role of any good agent should be to ensure you find the property that best suits your requirements. Spend time discussing what you need and ensure that the agent fully understands your requirements. If they continue to send you to look at offices that don’t suit your requirements, then it is probably better to cut your losses and find another agent. Remember you are the client, you are the one spending the money, and you deserve the best service possible.
I have a file 2″ thick of everytime I called PHH Mortgage Mt. Laurel NJ during a 9 month period. Finally fed up, frustrated and going through all my savings at the same time, and facing my business doing half the business it used to. I wrote PHH Mortgage and Fannie Mae a letter letting them know that enough was enough and i C.C’d TV Channels, DIane Feinstein, Howard Berman, Bernark Franke, Joe Bide, and Obama.
Three Hours later i received a call that i now miracusily Qualified for a Home Modification. Only to find out in 4 months that it was an illegal Home loan Modification because it didn’t include my house taxes. Phh Paid my house taxes and forced me into a foreclosure.
I’ve lost my business, my home, and am in debt. Also PHH sent in negative 9 times to Experian , Trans Union, Equifax during the time I was waiting for PHH to evaluate my financials before the modification. Let’s not forget the misleading rumor that spread like wild fire , that in order to qualify for a home loan modifcation you had to be 3 months in default. I’ve sent my letters with copies of my modification before giving up my home to FDIC, Securities & Exchange Commission, Diane Feinstein, Barbara Boxer, and a multitude of other government departments. I received letters from most that “THEY have no Juristican over Mortgage Servicers.
But what about Fannie Mae who owns my home, and was bailed out by our GOVERNMENT shouldn’t they be employing a company that is “PRO-Public”. In September of 2008 my fico score was 801 I had no debt. my business was booming. 10 days after closing escrow the stock market TANKED, it shook up the people and my business starting to drop.
Shamethebanks.org, and all the negative blog sites dedicated to people writing in their horror stories is great, but we now have to take it to the next level. We need to have an email revolution, by reaching out to everyone on these blogs, orgs, and send it into every government/ TV media/ Newspapers and magazines. Until we bring the banking industry to court and limit their lobbyists, limit how much power they have. Because they’re controlling our economy and erasing middle class. They’ve pulled off the biggest Ponzi scheme, making Bernie Maddof look like a cartoon character.
After living in this Salem condo for 13 yrs, never running more than 2 mos late with monthly dues, and paying almost $10,000 for a special assessment, the trustees of the Hamlet charged ahead with a frivolous lawsuit against me, claiming I owed them $140 in late fees, PLUS an extra $5000 it cost them to engage their lawyer in this ridiculous action.
Despite my numerous letters, emails to all of the board members, the property manager (Crowninshield), the owner of the property management firm, they ignored everything in their aggressive pursuit of injustice. Every state legislator I contacted, the AG office, the BBB, our state reps, the mayor of Salem, realtors I contacted, all agreed this was ridiculous action on the part of an out of control board of trustees, nobody had heard of such a thing, and since there are NO STATE LAWS TO PROTECT CONDO OWNERS IN MASSACHUSETTS, basically HOAs have unlimited power to do whatever they want whether illegal, immoral, unethical AND NOT BE HELD ACCOUNTABLE FOR THEIR ACTIONS!
They all advised me to get a lawyer, go before a judge so that justice would be served. Unfortunately, the judge hearing my case wasn’t paying attention to my lawyer’s legal citations, was visibly enamoured by the HOA’s lawyer, and ruled 100% in favor of the HOA, which included claiming I owed 3 months of condo fees (I OWED ZERO CONDO FEES, WAS TOTALLY CURRENT), along with the $140 late fee, plus another $5000 plus for the HOA’s attorney to pursue this frivolous lawsuit. He granted them permission to place a lein on my condo and pursue foreclosure action to “collect their debt”.
After owning 4 previous homes, this was my first, and will be my last, condo. With all the foreclosure and financial ruin insanity being caused by the banks, condo owners must be made aware that unethical, out of control, power hungry HOAs have the same power to destroy lives, their towns, their states, ultimately the country, and get away with it.
I bought this house in Tempe AZ on Aug 1, 1995 for $105,000 at a fixed rate of 9%. Payoff time was 22 years. When I purchased the home there was a second mortgage on the property and that payment was around$200.00 on top of the first which was $825.00.
I paid off the second which left me the $825.00 fixed rate payment. Around 1999 I had met this friend of a friend who was working at a car dealership in Phoenix AZ as a loan specialist who got a few of my family and friends approved for auto loans. He then went to work for a mortgage company in Phoenix as well. He kinda became a good friend and when he asked me run a credit card thru my business for a cash advance I went ahead and did it. this was after he got my mortgage refinanced at the company he was working for.
When he first asked me about my interest rate and I told him I had a fixed at 9%. He told me he could do better and lower my payment plus get me some extra cash out of this whole deal. I told him that I wanted a fixed rate as well and the same pay off period of the original loan which would have been 2017.
Well after I signed I found out that the rate was still at 9% and my mortgage had turned into a adjustable rate. I felt deceived by this whole matter but didn’t really felt that since I already signed that I couldn’t do anything about it. Well in the meantime about me running a credit card for him. It turned out that the card was his father in law who disputed it and I ended taken the loss of $2000,00 because of it. I did sue him in small claims court here in Tempe AZ and won the judgement but was never able to collect a dime from him because I was never able to find him.
Anyway I continued to pay thru this new company which turned into another company and for a while I was sending payments to different companies. My payment had jumped to$1100.00 for a while but I still paid it and was never late from 1995 to around 2009. In 2009 I started to have difficulty in paying my mortgage as being a self employed artist and with the economy getting worse and worse I fell behind.
I went into foreclosure in 2010 but was able to get a loan from a friend and got reinstated in August 2010which included paying some substantial attorney and late fees.. At that time after reinstatement a employee at GMAC which took over my mortgage told me that I did not have to make my first payment until Dec 2011 but later I found out it was Dec 2010. In the meantime I had rented the house out and after 5 months had to sue the renters to get them evicted because of non payment of rent. I found that I was actually about 11 months behind and was scheduled for foreclosure on Oct, 27 2011.
The day of foreclosure I filed for Ch 7bankruptcy which was finally discharged on March 4 2012.
I tried numerous times before Oct 2011 to get GMAC to work out a deal but they wanted the whole amount to stop the foreclosure which was about $13,000 and that is why I filed for bankruptcy. Well they have re-instigated the fore closure which now is set for June 22, 2012. I requested a show me the note letter and they sent me a copy of the 1999 sale which the so called friend did. In the meantime I found out that guy was indicted for grand theft for something he did at the mortgage company he worked for. He and another guy were sent to prison. The reason I brought him up was I have feeling that something might not be right with the current loan that GMAC now is servicing.
And that is where I am at. I have contacted GMAC and they want me to send info for a loan modification but I don’t think they would approve me anyway. I do have equity in this house about $70,000 but that is also in question as the payoff amount does not match what I think it should be. I think I presented everything. So if there is anything that can be done please let me know.
A trove of leaked documents shows that HSBC’s Swiss private bank turned a blind eye to illegal activities of arms dealers and blood diamond traders while helping rich people evade taxes, according to a report based on the documents that was published Monday.
The data relate to accounts worth $100 billion held by more than 100,000 people and legal entities around the world.
A former HSBC employee-turned-whistleblower, Herve Falciani, gave the data to French tax authorities in 2008. France shared it with other governments and launched investigations.
The French newspaper Le Monde obtained a version of the data and shared the material with the International Consortium of Investigative Journalists, which analyzed the material together with The Guardian and the BBC in Britain.
WHAT THE FILES SHOW
The leaked documents mainly cover the years 2005 to 2007.
HSBC, which is based in London but has operations globally, served those close to the regimes of former Egyptian President Hosni Mubarak, former Tunisian leader Ben Ali and Syria’s Bashar Assad.
The consortium said clients include former and current politicians from Britain, Russia, Ukraine, Kenya, India, Mexico, Lebanon, the Democratic Republic of the Congo, Zimbabwe, and Algeria.
Switzerland had the greatest number of clients of the data examined, followed by France, the United Kingdom, Brazil and Italy. In terms of ranking by value, Switzerland was first with $31.2 billion, followed by the United Kingdom with $21.7 billion; Venezuela with $14.8 billion; the U.S. with $13.4 billion; and France with $12.5 billion.
WHY IT MATTERS
Though some of the details of such operations were disclosed previously, when HSBC was fined in 2012 by the U.S. for allowing criminals to use its branches for money laundering, Monday’s information suggests HSBC took an active role in assisting the wealthy in hiding their money from authorities.
“The bank repeatedly reassured clients that it would not disclose details of accounts to national authorities, even if evidence suggested that the accounts were undeclared to tax authorities in the client’s home country,” the consortium said. “Bank employees also discussed with clients a range of measures that would ultimately allow clients to avoid paying taxes in their home countries.”
Crawford Spence, a professor of accounting at the University of Warwick, said this case was different than other recent tax scandals.
“HSBC has been complicit in clear tax evasion