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What Happens to Shared Loan Debt When You Get Divorced?

By UnitedCash on February 16, 2019

If you find yourself in a situation where you can’t resolve your differences with your spouse, you may have to get a divorce. Getting a divorce can be quite emotionally distressing and can end up costing a lot of money. The best thing a person can do if they think they are going to get a divorce, is to obtain representation from a reputable attorney in the area. If you live in the Tampa area, locating a Tampa divorce attorney that has a great track record in court would be the first step to take.

Advantages of a Divorce Attorney

Utilizing a Tampa divorce attorney for representation is going to be a better option than dealing with a lawyer that doesn’t specialize. A divorce attorney is going to have an advantage, simply based on the volume of divorce cases they have been a part of. Divorce attorneys also have a much greater likelihood of knowing the judges in these types of cases, which can end up paying great dividends in the end. Getting a divorce can be a very confusing time, as each party is generally confused when it comes to dividing assets and debt. Most people are aware of the fact that when two people get a divorce, the assets and belongings they jointly own are going to be divided up between the two parties. However, the vast majority of people also have some sort of debt attached to their names. This may be in the form of student debt, credit card debt, or any other type of debt that may have added up over time. This debt is also to be split between the two parties, much in the same way that assets are divided up between the parties. The only exception to this case would be if the two individuals had signed a prenuptial agreement before getting married. This would essentially protect the assets and debts of each individual before the marriage, which the court would defer back to in the case of a divorce.

Splitting up Loan Debt

Each and every case is different and will be handled by the court accordingly, but you can generally expect that debts will be split up between the two parties in a variety of different ways. One party may have to take on the debt in a certain area, while the other party may absorb debt in another area. There are also specifications that deal with debt terms, which may bring in another set of variables to be considered by the court. An individual loan debt may be more or less burdensome than other types of loan debt that are shared between the two parties, which is one reason why loan debt needs to be worked out in the court. The two sides and their lawyers will attempt to negotiate and divide the debt amounts up in a way that is fair to both parties.

Success in Court

Dividing up loan debt is something that can inevitably have a huge impact on your financial future, which is why it is so important to hire a great lawyer. An attorney that knows what they’re doing will help you to minimize the amount of debt that you absorb in your divorce. At the same time, a great negotiator in the form of an attorney will likely help to smooth out the process and decrease the amount of time that is spent in court. Court fees can add up quickly if both sides are not able to come to an agreement, so make sure you do your research and locate an attorney that can represent you well in court.

This entry is filed under Money and tagged Tampa divorce attorney.

The Benefits Of Providing Affordable Homeloans To Potential Homeowners

By UnitedCash on February 9, 2019

Everyone wants to own a home, and while some people may afford to buy one with their own savings, others can only rely on mortgage loans to own a home. Unfortunately, there those people whose incomes cannot allow them to access these loans either. As a lender you can consider such people and while lending to people with high incomes prepares alternative affordable loans for low-income earners. Affordable does not mean that they will not pay for the loans or they will be charged less than others but their repayment periods can be longer so that they can pay little by little until the full amount is cleared. However, other factors that qualify one to get a loan such credit history or credit score must be considered. Here are some of the reasons why you should start providing affordable home loans for potential homeowners.

Low-Price Selling Can Increase Your Profitability

Buying a home is expensive, and since not everyone will afford to buy one, you can decide to provide alternative affordable home loans to low-income earners as long as they qualify to get these loans. Selling affordable loans means that you are likely to attract customers who could not have afforded the expensive home loans. While selling highly-priced loans can increase your profitability, selling more low-priced loans can also bring the same results at the end of the day. For instance, you can have 100 clients buying the highly priced loans each bringing a profit $1000 and also 200 potential homeowners who want to buy low-priced loans each bringing a profit of $400. In the first scenario, you will earn a total of $100,000, and in the second one, you will earn a total of $80,000. The thing is, if you only considered having the highly priced loan, you would only earn a total $100,000 but now together with the affordable loans you have a total of $180,000. All you need to do is ensure that all the borrowers are qualified for the loans they apply for.

You Can Reduce The Risk

Many people would not consider providing loans to low-income earners because they fear that they might not repay the loans. However, just like the Chenoa Fund Loans you only need to have a properly prepared and managed payment plan and better risk management practices. Usually, mortgage loan providers require a borrower to pay a down payment of 20 percent and then the rest is paid as a loan. If you are considering providing affordable home loan you can lower the down payment to around 15 or 10 percent depending on how you evaluate the borrower. This a big risk you are taking and to ensure that you do not end up losing your money, ask the borrower to use the property you are selling to them as collateral. When the borrower pledges his home as collateral, you are safe because you have the permission to put a lien on this home for foreclosure when necessary. In this case, both the lender and the borrower benefit by getting what they want.

Builds Reputation

Everyone loves working with people who are considerate and while business is a bit serious to value consideration, being able to consider low-income earners will attract more people to your business. Even the people who can afford highly-priced loans will be happy to work with you and also refer more business to you. When more people can own a home because you decided to provide alternative affordable home loans, it’s a guarantee you are building your reputation out there. That is why companies such as Chenoa fund says that every American deserves to have a home and having affordable home loans can help to make this happen and everyone ought to love this consideration. However, you must be able to avoid issues such as auctioning clients because of poor loan approvals or losses because of unrecoverable loans.

Everyone wants to own a home, and you as a home loans provider can make this happen by providing affordable loans for low-income earners as long as they prove their credibility. You and your borrower will enjoy the end results.

This entry is filed under Money.

Colby Lee Burke Discusses Why You Should Consider Purchasing a Home in Hilton Head

By UnitedCash on January 9, 2019

Buying a house is a fairly similar process no matter where in the country you’re planning to buy it in. You have to know how much you’re willing to spend, where you’d like to live, and the type of house you want. Then you need to meet up with a broker or realtor to aid in your house searching process to abide by the rules and make sure everything is done in order. In this article, Colby Burke Hilton Head will be discussing why you should consider purchasing a home in Hilton Head, South Carolina.

Colby Lee Burke Discusses Why You Should Consider Purchasing a Home in Hilton Head

Hilton Head is an amazing place to travel to, but why would you need to travel to a place you already live in. If you’ve been looking at places where your money will go far and will also provide you with a great living experience, then look no further than Hilton Head for the following reasons:

Near-Perfect Weather Year-Round
Pristine Beaches
Top-Rated Golf Courses
Food Festivals
Wildlife Reserves
Minimal Tourism
Great Neighborhoods

Those who have never visited Hilton Head, South Carolina can only base their moving decision based on articles and what the news say about the area. If you’re looking for a place close to the beach, with great weather, and lots of things for you and your family to do then you should really look to buy a house here. Near-perfect weather means you will not have to worry about your house’s water pipes freezing like it does in Oklahoma. Any day you want to you can take a trip to one of the six beaches within the Hilton Head island.

If you’re looking for a place where your home will retain its value, this is it. According to Trulia, the trend shows an increase of 9% in median sales price year after year, as well as a 1% increase in the cost of rent. This is a great place to be in because prices will only continue to go up and you wouldn’t want to purchase at or near the top of the market. In the past year there have only been three crimes and one arrest, making Hilton Head one of the safest areas in the country. There are fifteen schools in the Hilton Head area and the household income of the neighborhood averages close to $80,000. Here’s one of the best statistics anyone would want to hear: the average commute time on the island is anywhere from five to fifteen minutes, never more than that. Finally, the median sales price for a single family residence is $380,000 and the average price per square foot is $217 with an average monthly rate of $2,400.

Conclusion

In conclusion in this article we discussed the topic of purchasing a home. Specifically, we discussed why purchasing a home in Hilton Head, South Carolina is a good idea. The island has near-perfect weather all year round, six pristine beaches to sun bathe in, two dozen golf courses, a yearly six-day wine and food festival, wildlife reserves within the island, and so little tourism that you’ll feel the peace and quiet. Colby Burke Hilton Head also provided some real estate facts in order to make your purchase a sound financial decision.

This entry is filed under Money and tagged Colby Burke Hilton Head.

Apply These 4 Secret Techniques To Improve Your Credit

By UnitedCash on August 23, 2018

Your credit card can be severely affected when you have severe financial distress. Bankruptcy penalties in Chapter 7 on your credit report stay present for ten years. Collection accounts and Chapter 13 stick around for seven years. In case you attracted a tax debt due to financial distress, you will be haunted by unpaid tax liens for approximately 15 years. Who wants to wait for that long to rebuild credit? Absolutely no one!

There is a better way; you need to take measures that will help you to fix your credit for you to become financially stable again. Once the debt is behind you, you need to take the necessary steps to rise above debt and four credit so that you can get new financing and advance your life.

We are going to look at five steps that can assist you to improve your credit.

Go for re-aging

When you have an account that turns out to be delinquent, the lender or creditor often reports the status of the account to the credit bureau. Once this record is in place, you get a negative credit report that stays open for seven years.

If you have an account that is delinquent, inform your creditor and arrange for a repayment schedule to cover up the payments. For you to be able to stick to the repayment schedule, ask for re-aging of the account for the late payments and negative status to be removed. Once that is done, you will have to make your payments to boost your score.

Repair your credit

Having several negative items on your credit report is possible. Most of the penalties can be legitimate, and the only way is to re-age if you want to remove them. But on the flip side, not all items that are negative in your report are right. There have been errors made in credit reports that can drag your score.

You can dispute these errors through a credit repair in different ways:

Hire a company to look at your credit report and make any disputes in your case.
Purchase a credit repair software to help you recover from your credit.
Get an online credit free guide to fix your credit.

If you make a successful dispute, any negative item will be removed, if it is hurting your credit score. This will help you to improve your score within a month which is the time the credit bureau will verify information or remove the negative item.

Pay on time

Your payment history is a primary consideration of your credit score since it accounts for more than on-thirds of the score. Although it seems simple, payments have to be made in time to improve your credit ratings. Each payment made on hard money loans creates a positive record in your payment history. So, if you missed payments tainted your record, the payments will offset this record.

It is important to know that the impact of the bad record decreases over time. Although the items stay on your record for some time, it becomes less impactful. Essentially, a recent missed payment can affect your credit score than a missed payment five years ago.

So, if you make on-time payments as frequently, you will fix your credit faster. The same is true even if you have hard money loans.

Don’t close old accounts

Keep accounts that have always been active available. ‘Credit age’ is how long your credit has existed over the years. It is considered a key third parameter in calculating 15% of your credit score. If you close your oldest accounts, your credit age will be decreased which is bad for your rating.

If it is possible, use your creditors to keep your old accounts in good ratings to minimize your credit age and prevent abrupt decreases in your score.

This entry is filed under Money and tagged Associates Home Loan, hard money loans.

A Breakdown of the Upstart Cost of Becoming a Successful Real Estate Investor

By UnitedCash on January 22, 2018

Real estate can be a truly lucrative and beneficial investment. It has the ability to produce monthly cash flow while increasing in value. Your tenants can meanwhile fund your mortgage reduction efforts for further equity accumulation. These financial benefits are combined with the tax benefits and the ability to leverage your purchase with financing. The reality is that you will be hard-pressed to find another investment vehicle that is as beneficial as real estate is. However, while you can leverage most of your purchase with a mortgage, you will still need a substantial amount of capital to make the investment. These are the upstart costs associated with investing in real estate for the first time.

Educational Expenses

Real estate investing is not something that you want to venture into without some background knowledge. You must have a clear understanding of selecting the right property, setting up financing that generates positive cash flow, taxation implications, tenant and management issues and more. You can glean some information by reading several reputable real estates investing books. However, you may also benefit by taking formal classes on the top of real estate, finance and more. Robert Tweed offers scholarships for some finance-related courses. The cost of the books and classes should be taken into account as you begin examining the total upstart cost for your future investment activities. Remember that you also may need to factor in the time necessary to improve your knowledge base.

A Down Payment

After you have enhanced your education in the area of real estate investing, you can begin searching for an excellent property to purchase. Hiring a real estate agent is a smart idea, and thankfully, the services of a real estate agent are typically paid for by the seller rather than by the buyer. Real estate investment loan programs through Robert Tweed and other sources have varying down payment requirements. For example, if you are buying a single-family home as an investment, you may qualify for a loan of 75 to 80 percent loan-to-value in many cases. Some residential investor loans have an even higher loan-to-value. Investing in a commercial retail strip center, however, may require you to put as much as 25 to 30 percent down. The sales price and available financing for the property type that you are looking at will affect your down payment amount. Your financing options may also be limited by your credit score, net worth and various other factors.

Closing Costs

In addition to having enough capital available to pay the down payment on your real estate investment purchase, you also must pay the closing costs. A general rule is to estimate between three and four percent of the sales price as closing costs. The seller may concede to paying some of your closing costs, but you need to ensure that this is permissible by your lender. The closing costs include title insurance, legal fees, prepaid taxes and insurance, an appraisal, a property inspection and more. Remember that many lenders require you to have at least three to six months of mortgage payments available in liquid cash after the down payment and closing costs are taken into account. Therefore, this lender-required reserve should also be included in your financial calculations. Your loan request may not be approved if this financial requirement is not met and properly documented.

A Reserve Fund

While the lender typically requires you to document the availability of reserve funds after closing costs and the down payment are taken into account, it is important to consider how much money you prefer to have in a reserve fund. Remember that vacancies can result in lost revenue as well as in repair and upgrading costs. Vacant units typically mean that the property is operating at a loss until the unit is leased. You must have enough cash on hand to pay for the mortgage, repairs and operating expenses during vacancy periods. The property also may need more significant repairs over the years, such as an HVAC or roof replacement. In some cases, you may need to pay the insurance deductible when filing a claim. As you can see, it is necessary to have a healthy reserve fund if you want to keep your property well-maintained and to avoid financial stress in the process. Some investors find that their comfort level with regards to a reserve fund is substantially higher than the lender required reserve amount.

For many first-time real estate investors, it makes sense to learn as much as possible before buying your first property. However, there are many things that you will learn from personal experiences. The more expensive the property is, the greater the risk in some cases. Therefore, it may be wise to start with a smaller investment property. It may also be helpful to use the services of a real estate agent who is experienced helping investors locate quality properties.

This entry is filed under Money and tagged Robert Tweed.

The 3 Most Important Money Lessons To Teach Your Kids

By UnitedCash on September 8, 2017

I will always remember a specific moment from my childhood. My uncle was driving me to his and my aunt’s house, and as we got back into the car after stopping for lunch we saw someone in the restaurant parking lot light up a cigarette. My uncle paused before starting the car, and took a moment to look at me. “Smoking is a very bad habit for you. It’s not good for your health. You know that, right?” he said. The way he conveyed this message was so intentional that I felt honored that he had taken the time to speak it to me. Children learn by example, but we can not dismiss the importance of the lessons that we speak aloud. Taking the time out of your busy schedule, even if just for a moment, can mean so much to a child. When it comes to finances, you can change a child’s life by taking the time to teach them these three important money lessons.

1. Money Is A Tool

Money is a resource that can help us do the things we want to do. Tools are neutral; they are neither good, nor bad. A hammer can be used to build a house, or to tear down a house. In the same way, money can be a tool used to build a life of love and laugher, or it can be used to produce stress and discomfort. Training a child to see money in a neutral light can help him or her move forward with a postitive relationship to finances.

2. Compounding Interest Adds Up Quickly

Once a child is old enough to appreciate the value of a dollar, it is important to show them examples of compounding interest. If a child grows up thinking that money always multiplies in a linear fashion, they will never understand that exponential growth is possible. A great way to teach this lesson to your child is to help them invest a small amount of money. They will see it grow as the interest in turn collects more interest. Also, be sure to run through some investment simulations that show the impact of compounding interest over a span of several decades. This will help your child start to invest at a young age, which can have a significant impact on retirement funds.

3. Money Is Like Manure: It Helps Things Grow

When a child understands that money is a tool, they can also understand the importance of giving. Teach your child that money is not to be hoarded and stressed over, but rather shared with others in need. A concept such as tithing can be a great example of this. Helping your child donate some of their earnings at a young age can introduce them to the powerful and joyful feeling of giving the gift of money.

Your child is learning from you by watching the way you spend and interact with your money. Your facial expressions, off-the-cuff comments, and tone of voice regarding money will make a big impact on them. Make an even stronger impression by taking time out to speak your message to your child. This will most definitely be noted in their minds as a significant and memorable event, as it was for me.

If you want to share these positive messages with your child, but feel like your own finances are not in the shape that you would like for them to be before teaching someone else, you can start to improve your own situation. Reach out to experts such as those at Nationwide Debt Reduction Services, and pick up books that will help you understand your finances. A great resource for learning about compounding interest is Tony Robbin’s book, “Money: Master the Game.” Helping yourself grow and learn will in turn help your child, as you become better able to transfer valuable money lessons.

This entry is filed under Money and tagged Nationwide Debt Reduction Services.

Luke Weil Discusses Role of Foreign Investors in United States Real Estate Market

By UnitedCash on May 27, 2016

Despite the widespread reports of a downturn affecting the Chinese economy, investors from China are continuing to invest in the United States commercial real estate market at a rate that vastly exceeds that of any other country. In fact, Chinese investors allocated more than twice the total investment dollars of the second-highest country, Canada, through the purchase of 47 properties valued at $9.3 billion.

Luke Weil, an experienced investor familiar with foreign investment strategies relating to real estate, would likely suggest that the massive surge in commercial property investment from Chinese investors is likely a product of the economic instability rather than an anomalous figure occurring in spite of the instability. It is entirely possible that these Chinese investors see real estate investment properties in the United States as a safer way to protect their accumulated wealth rather than allowing it to be subjected to a potentially volatile economic climate in China.

Perhaps what is most surprising in the surge of foreign investors snapping up properties is the fact that the commercial real estate market is not viewed as being a particularly strong investment at the moment. Many observers and analysts believe the commercial market’s sustained growth in recent years is due to level off quite substantially and may even be prone to a significant decline in value in the near future. It is not necessarily clear, however, what kind of practical implications that fact may have on the way Chinese investors perceive the health of their own economy.

This entry is filed under business, Money and tagged business, Luke Weil, money, real estate.

Building a Home in Toledo Ohio

By UnitedCash on February 26, 2016

While buying a home is a great goal to have, the ability to build a home is something much greater. For one thing, if you can build a home, you can put it together the way you want as long as it is within the boundaries of the property you have paid for. One great place to build a home is in Toledo Ohio. There are custom home building companies that are willing to help you build your home. One custom home builder is Ralph Slaske. He is a member of the Home Builders Association of Greater Toledo and the National Association of Homebuilders.

One of the reasons to build a home in Toledo, Ohio is because of the climate. The climate is very humid. There is also a lot of variation in temperature for each season. One interesting aspect of the summers in Toledo, Ohio is that the Spring and Summer months are wetter compared to the fall and winter months. This interesting client is what makes Toledo a great place to build a home. You get to enjoy the unique climate of Toledo Ohio while you get to stay in a home that has been built and customized to your liking.

This entry is filed under Money and tagged Building a home, Home Builders Association of Greater Toledo, National Association of Homebuilders, Ralph Slaske, Toledo Ohio.

Money Comes To Karl Jobst

By UnitedCash on September 24, 2015

Money comes and money goes in a cycle that seems to follow it’s own laws of motion as it flows from the business to the bank to the person and back again. Successful people like Karl Jobst have caught on to this way money works and as you can probably tell from this most recent interview with Karl Jobst, money is the last thing he seems to be concerned with.

Karl is more focused on building his team through his hiring process and servicing his clients. This is because he knows that if he does these things, money will come to him so there is no need to chase it.

This entry is filed under business, Money and tagged business, interview, Karl jobst, money.

Money…What Money?

By UnitedCash on June 24, 2015

The money for real estate can be difficult to come buy. Finding an investor can be impossible if you don’t have a proven record of good deals to point to. If you are just getting started you may have to get a second on your home to start the real estate investment. Now if you put it all on the line you better make that investment turn a profit or you will be in deep trouble. One should be aware when it comes to real estate that deals that are too good to be true should be looked at with skepticism. Dove Press posts deals that should give you a good start.

This entry is filed under business, Commentary, Money and tagged banking, business, cash, invest, Investing, money.

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