The price of properties has fallen drastically since the advent of the credit crunch.The main effect was found in the mortgage and secured loan markets.Secured home loans require the security of the bricks and mortar value of a property, and they depend to a large extent on property value.In addition to property prices decreasing the number of secured loans and remortgages available, the underwriting criteria of mortgage and secured loan lenders...more
For the married couple, it is truly essential that an estate is properly structured, legally protected, and the disposition of assets in the case of separation clearly defined. If you have not yet started a trust for your assets as a property investor, perhaps this scenario will convince you of the need to do so.The Case of the Trust-Less DivorceIn most cases, divorce is a messy matter. It is highly unlikely that the two parties will be able to...more
When financial woes hit a married couple the unfortunate outcome is often a divorce. Of course, this means the division of assets, along with the usual amount of bickering over that division. But if those assets are in a trust, what happens?The Creation of the TrustFor the property investor or any other type of investor, a trust is always recommended for placing assets. Do take some care, however, before creating the trust. An individual's rights to the assets are affected by this legal structure, so it is a good idea to consult a lawyer.Property Relationship AgreementIn the case of a married couple, the two parties should also enter into a Property Relationship Agreement (PRA). This component is essential for laying out exactly what happens to the property in the future, particularly in the case of separation. The PRA prevents the parties from having to go to court and argue the disposition of assets.The PRA covers such matters as who owns what assets before they are placed in the trust. Additionally, the disposition of those assets upon separation is laid out in exact terms, such as provisions for sale of property and using the assets to repay outstanding loans.The agreement is...more
Here are 5 signs that you either have a major debt problem on your hands, or you are headed in that direction:1. You have no clue how much total debt you have. A sure sign that you are either in trouble, or are on the brink, is not knowing how much debt you have outstanding. Odds are you are either ignoring your debt problem for fear of how big...more
If you are going through the ordeal of a foreclosure on your home, you will need stop foreclosure help right away. Stop foreclosure help can come in many forms for the homeowner. A homeowner can seek the help from a lawyer or foreclosure investigator, file for bankruptcy or talk with their lender about working out some sort of deal where both...more
The UK economy has rarely been so seriously bad.The UK has only previously been in such financial crisis when at war.It was to be hoped that the Budget this week might contain some little gems that would help the recovery but unfortunately this was not to be.In fact certain aspects of the Budget such as the raising of National Insurance Contibutions that employers will have to pay for their workers will only cause some companies already struggling to survive to even lose their fight for survival.It will even lead to further redundancies at a period when redundancies have reached epidemic proportionsIn the midst of all this eonomic depression there was a glimmer of hope this week with the announcement by The Council Of Mortgage Lenders that mortgage applications had risen in October to the highest level since December 2007.Mortgage applications rose to 55,000.There are still citizens who feel that they are financially in a good place at the moment.When buying a property a mortgage is required and this up turn in mortgage applications shows that some people have the confidence to move house.Most of these will be moving to a bigger more expensive property as if they were down sizing...more
Anyone who has a poor credit rating will find that obtaining credit is very difficult. These people are seen as a large risk by companys who offer credit. However many people with bad credit still want to have a credit card to make purchases. Whilst...more
When you decide to get a credit card your first instinct might be to go straight to whoever you bank with and enquire about their credit cards. At one point this was virtually the only way of getting a credit card for the majority of people, but it...more
There are certain things in life that no one really looks forward to doing. These are the things that seem to take forever to accomplish and are not very interesting. Searching for the right credit card is one of those things, but it really needs to...more
Debts can sometimes become messy and further settling them can become a headache especially when your financial structure is not supportive. If you are drowned with huge loans to repay and your business running in loss, the options reduce faster than...more
Debt relief companies are a blessing disguise when we consider their services. The millions of people who have already overcome the tight situation of encountering with the banks can better explain the tremendous job they have been doing. You have...more
It is not a surprise if you find yourself to be yet another victim under huge debt. There are already millions of others like you, gasping for free air and finding a way out of this legal mess. The whole journey till now must have been a honey moon...more