Avoiding a Foreclosure Through Forbearance – Pros and Cons

Avoiding a Foreclosure Through Forbearance – Pros and Cons

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A lot of people hope that a forbearance agreement can help them to avoid foreclosure, and it often can. However, it should not be seen as an easy way out of a difficult situation. In fact, if you are facing foreclosure and you want to consider a forbearance agreement, do make sure you speak to a specialist like Stephen Buzzi first, so that you increase your understanding of what it is, whether it is right for you, and whether or not you can comply with the terms.

How Can a Forbearance Agreement Help?

Essentially, under this agreement, you will be able to receive special terms on your loan for a set period of time, usually no more than three months (although extenuating circumstances can increase this to a year). After that period of time, your normal payments will return, with an increase to pay back the payments you have missed.

Essentially, this agreement gives you a little bit of breathing space to your finances back in order. At the same time, however, it is very risky because, once your term is up, your payments will increase, and often substantially so. If, once your forbearance agreement is up, you cannot make the new repayments at any point, the lender will be able to proceed with foreclosure.

Another issue that you have to be aware of, is that your foreclosure agreement will be reported to the credit bureaus, and it will look as if you have been delinquent on your payments. Hence, your credit score will be negatively affected. Should your rating already be less than perfect, you could find yourself in a high risk category. While this may not seem so big of an issue now, if you were to find yourself with further difficulties at a later stage, you will struggle to find any help suitable for you, including foreclosure prevention.

Furthermore, forbearance agreements impact your escrow. This means it also impacts your property taxes and your insurance. Every installment, some money is placed into escrow to ensure annual expenses are met. Should you have a forbearance agreement in place, no money will be able to go into escrow and this means that you could end up not having enough money to pay taxes and insurance. When that happens, the forbearance agreement can be voided, and foreclosure can commence.

Should You Avoid Forbearance?

The above makes it sound as if forbearance should be avoided at all costs, which is definitely not the case. It is an excellent option for people who find themselves in a short-term difficult situation and who want to avoid foreclosure. It is simply very important that you are fully aware of all the risks that are out there, and what these types of agreements really mean. Naturally, if you speak to Stephen R Buzzi first, he will assist you in making sure that you know exactly what the agreement means, and that you are sure that it is a suitable solution for your particular situation.

The Biggest Investment Mistake and How to Avoid it

The Biggest Investment Mistake and How to Avoid it

Have you ever been skydiving? Most people haven’t but most people do know some of what it involves. Mainly, they know that, on your first few dives, you will be jumping in tandem, rather than being thrown out of a plane by yourself. The reason for this is that, whenever you start something new, you have to have an expert to hold your hand while you do it.

Gregory Lindae isn’t a skydiving expert, but he is an investment expert. And the biggest mistake he sees people make again and again, is that they believe the can read a little bit of information online, such as on Wikipedia, and believe they suddenly know it all. The reality is that you can read as much as you want, you will never have real life experience unless you have an actual go. But, just as with skydiving, there is no room for mistakes. They say that, if at first you don’t succeed, you should simply try again, but this, for obvious reasons, isn’t possible with skydiving! Similarly, it is not really an option with investing, because you will lose all your money if you don’t succeed.

The Other Key Mistake to Make

The reason why so many people who invest for the first time do things wrong, is because they are driven by their emotions. Did you know that studies have shown 96% would prefer to burn their mouth than to wait for food to cool down? And that 50% of people hang up the phone if they have been on hold for a minute? We want instant gratification, something that simply doesn’t exist in the world of investment.

Gregory Lindae also warns that we are no longer in the 1999 or 2000s, when stocks just grew and grew and people made millions overnight. At the start of 2000, there was a 15.6% drop in shares, and people panicked, selling everything that they had. Had they hold on to their stocks, they would have been sitting on quite a lot of money today. But that would have required patience, something that beginner investors in particularly do not have.

Similarly, those without experience often miss golden opportunities. Take solace in the fact that even Warren Buffett has been guilty of this. He once recommended people didn’t invest in big tech, including Amazon and Google, something that he now feels a lot of guilt about. He didn’t believe in tech systems himself, and that was a mistake.

Key to being successful, clearly, is to work together with an expert, someone who knows the ropes. But even that isn’t enough. It is best to have things checked and double checked, because even the experts have emotions. This is why people like Gregory Lindae always get second opinions on any decision they want to make, and they recommend their clients do the same. By building on the success of others, you have the greatest chance of becoming successful yourself.

Private equity: The regular myths debunked

Private equity: The regular myths debunked

It’s painted in all sorts of lights, but few disagree that private equity is one of the most lucrative industries around. Succeed here – and the riches can be beyond your imagination.

Of course, this sort of reputation also leads to countless misconceptions. Every month we see masses of information published on private equity and unfortunately, a lot of it is inaccurate.

While we don’t have a dissertation-like word count to mull through all of the misinformation we have stumbled upon over recent times, we are going to discuss some of the most common myths that this industry throws at us.

Myth #1 – It’s all about the exit strategy

As you’ll see with a lot of the myths that we analyze, a lot may have “once” been true. In other words, they have become outdated, which is why they are now myths.

This first one about exit strategies most definitely fits this description. Nowadays, private equity firms don’t have one eye on the exit, many are about the long-term approach. Sure, most still sell within a set period of time (usually five to seven years), but it’s not a case of getting out and making a quick buck like it once was.

Myth #2 – Private equity firms just want to appoint their own team

This is one of the primary reasons why private equity has a bad name amongst some sources. A lot of people believe that they like to just step in, strip a team out, and implement their own people. Once upon a time this may have been the case but suffice to say, times have changed.

In fact, you only have to analyze the philosophy of Marc Leder from Sun Capital to see this. He has publically said that one of his primary questions when scrutinizing a company is to see if there is an existing management team he can take advantage of. In other words, if this doesn’t exist it’s a major turn-off, for the simple reason that there’s nobody who can aid him with the existing workings of the company.

Myth #3 – It’s all about the big money acquisitions

This final myth couldn’t be any further away from the truth. The reason a lot of people think along these lines is because all of the news headlines center on the big acquisitions – the ones worth tens of millions of dollars (or more).

What people don’t realize is that there’s a whole other private equity industry. There’s one that hones in on small to medium sized companies, and this is just as vibrant. Sure, it might not have the huge profits attached that some deals have, but it’s a business in its own right and some investors perform very well with this approach.

It could be said that this links in to the previous myth as well. As PE firms were so renowned to appointing their own team and “forgetting” about the existing structure, a lot of smaller businesses opposed the practice. Now this has changed somewhat, this part of the industry has opened up.

Why Medicare should be protected at all costs

Why Medicare should be protected at all costs

Of all the programs delivered by our government, Medicare is one of the most important, as it provides the elders in our society health care they otherwise might not be able to afford.

Despite this, an alarmingly large number of politicians are targeting this program for cuts in the name of deficit reduction.

This is concerning to James P DeVellis, a doctor in Massachusetts. Having gotten to know many of his patients on a first name basis, he worries what will become of them if cuts render some unable to afford treatments he recommends.

Many of our elders live on a fixed income. If costs were to rise dramatically due to them needing to pay astronomically high health insurance premiums, their way of life would suffer tremendously, or they would have to live the twilight years of their life without coverage.

The population of older Americans continues to grow. If we want to make things better on the health care front, we must protect and expand Medicare, not cut it.

In this article, we’ll explain why we need to mount a spirited defense of the most vital program administered by our federal government.

They keep older friends, family, and fellow Americans healthy and stable

No one should ever have to face the hardship of paying for an expensive illness or injury after spending a lifetime providing value in the workplace.

Inevitable health conditions wrought by aging make the issuing private insurance to older adults an unprofitable practice for health insurance companies.

Recognizing this, government stepped in more than a generation ago to protect seniors during their golden years.

As a result, no one presently over the age of 65 worries that their diminishing sight, a worsening heart, or developing Parkinson’s disease will burden their finances or those of their children.

Medicare is an indirect source of funding for health care infrastructure

Medicare didn’t just improve the lives of the elderly years ago, the influx of cash it unleashed played a role in helping make American hospitals some of the most advanced in the modern world.

Before then, hospitals didn’t have the number of voluntary admissions they have these days (on a per capita basis).

With the government bankrolling them, though, the number of patients over 65 increased drastically after the implementation of Medicare.

The injection of all this capital had a massive effect, as medical centers suddenly had the cash they needed to boost their services to the next level.

Cutting edge machines, medical professionals, and research scientists were just some of the things this money attracted.

Cuts to Medicare threaten this flow of capital – if they happen, America’s standing in health care will decline in short order.

It is a good blueprint for the institution of a single-payer system

While Medicare isn’t the panacea for all our health care problems, it has shown itself to be the superior delivery method for those 65 and older.

When you think about it, shouldn’t a program that has worked so well for our elderly be able to work for everyone else?

Progressives and common sense conservatives have aligned on this issue, as both want a health care system that doesn’t loot our pockets to give us substandard care.

While this effort will take more than just removing the age restrictions and calling it a day, more than a generation of success makes Medicare a great place to start when creating a single payer system capable of providing world-class health care to any American who needs it.

Robert Bassam – How Does a Used Car Inspection Help to Seal the Deal?

Robert Bassam – How Does a Used Car Inspection Help to Seal the Deal?

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When you think about the tools most important to help life run smoothly, a car is one of the highest on the list. Cars are a key part in moving people around and having a smooth daily life. Owning one takes a bug responsibility and a cost commitment as well. When we dream of a car we tend to dream of new cars but the reality is that used cars are purchased more often and they may be a smarter choice for the majority of the population. Used cars allow for the most expensive aspects of car purchasing, their newness, to not be a factor in the price. As a result a buyer can get most of the same features of a new car in an automobile that is only a few years old but sells at a hugely reduced price compared to the new one.

Buying a used car however takes a particular set of guidelines and those seeking to do it must be cautious, because what you see is not always what you are getting. There are two routes that you can take to purchase a used car; either through a private sale or a dealer. Here is how you prepare for each:

Buying From a Dealer

When you purchase a used car from a dealership you get a real business with professionals in the business of selling cars. Used car dealers like Robert Bassam, make a living of supplying customers with used cars that they happily drive for years. If you are considering buying from a used car dealership, the most important things you need to do are to check the reputation of the dealership. You can do this online and look for feedback from customers. If they are happy about their purchase the dealership’s service there is a good chance that you will be as well. Is you find a dealership that does not market themselves online or that does not allow customers to leave public comments, this is a warning sign of potential trouble.

Also it is important to check the range of fees added to the price of the car from the dealership. These fees are sometimes high and need to be negotiated out of the purchase price. Look to do this at the closing when they are really motivated to make the sale. You can easily save yourself hundreds of dollars by understanding what things can be eaten by the dealer.

Buying From a Private Seller

When you purchase from a private seller you run a lot of risks and you need to be extremely cautious. First make sure you do not meet anyone at night and always take along someone with you. Finally when you agree to a purchase, never bring cash and do the sale at a bank if possible. Here is a checklist for you to put to the owner of the vehicle:

  • Who is the listed owner of the car?
  • Did you buy the car new? If not how many owners has the car had?
  • Do you have a vehicle report for the car?
  • Has the car been in any accidents?
  • Why are you selling the car?

What is as important as the answers you get, is the demeanor of the seller when he is answering the questions. Does he seem truthful? Is he willingly giving you the information you request? Do his answers make sense? Any sketchy answers is a warning sign that something may not be right and you should abandon the purchase.

If you are thinking of purchasing the car, you should hire a licensed mechanic to do a full inspection of the car. Many cars that look great have severe underlying issue that can cost you thousands of dollars. Only a certified mechanic will know what to look for and be able to give you expert advice on what you may be getting yourself into. Pay this persona and take his advice no matter how much you love the car. If there are repairs that need to be made and you still want the car, size them up and negotiate these repairs into the purchase price.

Gambling and Good Fun All In One – Four Great Games To Play

Gambling and Good Fun All In One – Four Great Games To Play

Gambling has always been one way to enjoy a good game. Knowing that there’s potentially a prize at the end of it makes it all the more rewarding. Whether you buy a powerball ticket to give yourself a chance of winning the lottery, or you link up with some friends and go along to the bingo, it’s all fun and games and an overall source of entertainment. Here’s 4 types of gambling games that are great to play.

Bingo

This is a game that’s largely associated with the elderly and family gatherings, but it really is a classic that everyone likes to get involved in. It’s always a thrill to have all your numbers called, then victoriously shout ‘bingo’. It’s a game that definitely promotes sociability as it joins many eager hearts together, all desiring to be the next winner. The link between older people and bingo is not far fetched either, this has been found among many whom age is beginning to take its toll on and health is beginning to deteriorate. This game has been know to bring laughter, well-being and something to look forward to to many elderly, which is why this game should be appreciated all the more. Bingo is most definitely one of the most popular and most played games around the world and brings people in 10s or 100s together.

Poker

Get your poker faces to the ready and cards in hand because it all starts to get tantalizingly tense when poker begins. This is a game where you can’t let your guard crumble or you’ll be crushed. Poker also helps you to develop useful skills that can be used throughout life because it in and of itself is a game that requires a significant amount of expertise. Increase your mathematics by calculating your pot odds, become more strategic by outthinking your opponent or gain money management skills by weighing up how much money you can spend in order to stay in the game. By the end of a few rounds of poker you’ll be a mastermind.

Lottery

It’s not only winning that makes this game rewarding but the lottery is enjoyable regardless. However, this is definitely a game that is worthy of all the hype that it generates because of the chance, though small, of winning millions, billions even. Just check the powerball results and you’ll soon see the 8-9 digit figures to be had. This is definitely one of the reasons why this game has become so amiably addictive. It’s a game that everybody is playing and that everybody is out to win. People from all walks of life, no matter how financially stable or unstable, are all lured by the thought of landing a jackpot that is out of this world. There are both social and economical benefits that this game has that makes this game all the more beneficial whether won or lost.

Raffle

When christmas parties and fundraisers are around, then the raffle comes out. The prizes may not seem as rewarding as the lottery when the raffle comes along to kids parties, nevertheless it provides entertainment for all ages. You can bring a community together for a good cause or you can just enjoy an online raffle game in the company of your own home, there’s diversity when it comes the raffle.

Why Buying a Vacation Home is a Great Idea For Retirees

Why Buying a Vacation Home is a Great Idea For Retirees

I retired 4 years ago and like many who have just given up the world of work, I felt a little lost and I was unsure how to pass my time. I realised very quickly that I would need a project to keep me busy or at least something that I could sink my teeth into. I worked and saved very hard throughout my working life and that left me in a healthy financial position so I decided that an investment of some form would be a good way to keep me from being bored.

After a chance meeting with real estate expert Radha Singh Hazlet NJ resident like myself, I was convinced that the best thing that I could do would be to invest in a vacation rental and that is exactly what I did. I had pondered the idea for a long time before deciding and if you are like I was, here is why I think a vacation property is the perfect choice for retirees.

Vacation Home

The most obvious reason is of course the fact that you will have yourself your very own vacation home that you can jet off to whenever you feel like. For this reason I would recommend that you buy a vacation property in a location that you will be happy to spend much of your time in. I bought a place near Philadelphia which has the perfect distance between sea and city, since buying the property I have probably spent at least 3 months each year there and I cannot see this changing.

Making Money

When I am not staying in my property, I like to use AirBnb to rent it out to others who are looking to stay in the area. Because of the location of the property, I very rarely have it empty and this provides me with a nice monthly dividend on my investment. In truth,  I had bought the property as somewhere that I could stay whilst on vacation but the additional revenue which the rental of the property brings in, is exactly what I use to pay for my time down there and for my transport. If you do buy a vacation property, make sure that you are maximising its financial potential.

Management

The management of the property is not something that takes up a great deal of my time but it is something that keeps me occupied when I need it. I spend many hours speaking with guests, fixing issues and doing the overall management of the property. This never feels like work and I actually enjoy connecting with the guests from all over the world who are calling my vacation rental home for a short period. It is always nice to have a little project to get involved with once you are no longer working and the management of my vacation rental was just what I needed in order to keep me busy.

Business Rates Issues Continue to Cause Financial Problems for Start-ups

Business Rates Issues Continue to Cause Financial Problems for Start-ups

More than 500,000 businesses in Britain have are still experiencing problems following the latest business rates regulation changes. Start-ups in the UK were forced to pay more in business rates without knowing whether they will benefit from the announced £300 million relief package. Following the announcement, which can into fruition in March, news have surfaced that the ‘relief fund’ has still yet to be paid out and it is causing major problems for UK businesses.

Restaurants, shops and businesses in southern England have been hit the most following the first revaluation in over 7 years. Recent news articles broadcasted that certain start-ups have been faced with massive 50% rise in business tax, and with the new support fund announced by the Chancellor still not functioning, these business are still unsure of whether they will be able to benefit or lose out. Worry remains that businesses will be left in the dark for more months to come and with no announcements on the horizons, will people get their money back? Experts fear that the longer this is drawn out, businesses could be forced to relocate or go under.

Following the flood of news, Government sources leap to the defence of the fund by stating that it will be ready by the end of summer. Jerry Schurder, head of business rates at Gerald Eve, said: “Whilst the package of measures announced in the Budget will eventually bring benefit to some businesses, the current uncertainty as to who will qualify and to what extent, is of huge concern… Rates bills landing on doormats now do not include any of the new reliefs and demand payment of the first monthly instalment within the next few days.

“In the meantime, Government is still consulting as to how the £300m discretionary relief fund will be divvied up amongst councils. Only once it has made decisions and advised local authorities as to the categories of business Government believes should be considered for relief will the process begin… Councils will have to devise their own guidance as to which of their local businesses might qualify, programme their billing systems, create application procedures and put in place resources to manage what could well be a torrent of applications for these discretionary reliefs. We could be well into the summer before businesses learn what share of the pie, if any, they will be granted.”

As stated, over half a million UK businesses have seen a spike in their business rates. The Government have however, disputed this change by releasing figures that show that 420,000 will play the same amount as previous, with 920,000 companies set to see a decrease following estimates after the first quarter.

The magnifying glass was firmly shone on ministers before the Budget as support was being called upon for those affected by doublings in rates after sharp housing price increases. Following this, the Chancellor announced 3 different measures in July that meant that start-ups facing those larger rates would get more help, that 90% of pubs would be given a thousand pounds off of their bills and finally, that the third measure was the article based topic surrounding the £300 million fund for firms raising council given tax rates rises – the same fund that businesses are waiting to claim a business rates appeal.

Despite this, owners as well as critics are still skeptical about this as they are still being forced to pay increased bills today without knowing whether they will be able to get the money back or the financial help that they have been promised. Each local council can also choose its own rules for who gets the funds, leaving business facing more uncertainty according to experts.

The Government this week have responded by outlining the £6.7 billion package that is set to commerce to aid businesses with the revaluation, stating that the fund would be functioning “as soon as possible… We’ve listened to the concerns of businesses and are giving an extra £435 million to help those facing the steepest increases in their bills. Working with local authorities, we’re making sure this extra support gets to businesses as soon as possible.”

That however, is still no help for businesses financial concerns today and as it has now been many months since this business rates relief was set to take place, they are still no closer to an answer. Continued stalling on this policy could massively hit the UK economy with start-up going out of business. That mixed with uncertainty regarding Brexit changes and free movement regulations could produce mass problems for the business climate within the country.

Don’t Let Divorce Get You Down – Deal With It The Right Way

Don’t Let Divorce Get You Down – Deal With It The Right Way

With something so life changing, that’s accompanied with a world wind of events, it’s  easy to come into contact with emotions of stress, anxiety, depression and more. A divorce might be the end of something you and your ex had, but it doesn’t have to be the end of you. Here are some helpful tips on how you can deal with divorce, not in a destructive, but in a more uplifting way. 

Agree To Disagree

Coming to a mutual agreement with your ex in regards to who gets the kids, coming to a settled agreement on things like property ownership and other things such as that, is essential. It can be so easy to act compulsively based on emotions and not on what’s best. Family mediation is a way of going about things fairly and legally, family lawyers Parramatta is a good option for those based in this area of Australia. Having this in place will ensure the best possible outcome for both parties is achieved and once things are settled you can get on with your life.

Get Support

Having an appropriate and reassuring support network is always something that is completely necessary when faced with divorce. Have those family and friends that have your best interest at heart come and reach out to you, show you that it may be hard but you can get through it. Sometimes you just need that friend with their quirky sense of humor and high spirits to take you out and show you that there is still so much more to life, show you that you can, no matter how difficult, still enjoy yourself. When loneliness tries to creep in, you can regain that sense of companionship from the kind-hearted and compassionate network around you.

Take Things Easy

Don’t over do it. Sometimes it’s so easy to try and keep everything to a ‘T’: House spotless, kids in order, work errands completed and before you know it you’re burnt out and depressed all over again when tasks become unbearable. Take it easy and take a break. You don’t have to let things get out of hand, you can still have your routine, but you also don’t have to be like a mouse on a running wheel trying to get everything done at once. Doing this will only make the already very burdensome situation even more of a burden. Maybe you could consider a holiday, somewhere you can put your feet up, enjoy a luxurious spa and let ‘stressed’ be the last verb that describes you. It’s so important for you take time to heal.

Stay Positive

Have a positive outlook on the future. With life looking bleak in the present divorce situation, it’s easy to view the future as bleak and to have low expectations of things ever looking up. Hold on to hope and take active procedures to change your outlook. Create action plans to build on your self-esteem and to manage your ‘fed up’ sort of feelings. Throw away the checklist of your ex-partner’s flaws and make a list of things you want to accomplish in the future. Pick up a hobby that helps you to invest more into yourself, or pick up something fulfilling like working for a charity or doing general volunteer work. It all helps to take your mind off the devastation of divorce and turn your eyes to the fascinations of the future.

5 Ways to Get a Loan without Your Parent Being the Co-Signer

5 Ways to Get a Loan without Your Parent Being the Co-Signer

Adolescents struggle during their youth to make ends meet and thus require a steady influx of finances to fund their future endeavors. However, asking your parents for cash or being a co-signer is not always possible considering they have already invested a lot on you, exhausting all their resources.

Securing a loan without your parents as a co-signer will give you a sense of independance.

Here are a few ways through which you can get a loan to assist you during your peak years.

1. Make A Smart Choice

If you are looking for loan options without a co-signer, need not worry. You have several financing options available where you can get a loan without involving your parents. One of the most popular financing option available for youngsters is a student loan. You can also opt for a personal loan to help you manage your finances if you’re not going to university/college. If you apply for a personal loan, do your background research to ensure you’re eliglbe.

2. Be Strategic With Your Decision

Youngsters tend to get overwhelmed when they have to take charge of their finances, which can lead to them making wrong decisions. Thus, do some market research and get a strategy in place so that you know what loan you want and what factors may impact you. For example, take the interest rate and any hidden charges etc. into consideration before applying for a loan. You can also opt for  peer-to-peer lending or credit unions to help you secure a loan.

3. Strive Hard To Improve Your Credit History

It is increasingly important to have a strong credit history and score if you want to increase your chances of getting a loan. The issue faced by most youngsters is that their credit history is poor, which either results in rejection or high interest rates. Similarly, a poor credit history also denotes bankruptcy or late payments affecting your overall stability.

Start working hard to improve your credit history. Discipline yourself, make payments on time and shop strategically with your credit card. All this will help in improving your credit history in the long run. On the other hand, if you need immediate cash then opting for a payday loan or quick loan will be a better choice.

4. Calculate Your Loan Amount

You can also calculate the amount you are eligible to loan with the help of a loan payment calculator. The loan calculator will take your expenditure and income into consideration to suggest a suitable amount that you can easily repay.

Calculating the loan amount will give you a better idea about the amount you can secure. Moreover, it will minimise the chances of rejection as your demand will be significant to your financial situation.

5. Prepare Proper Documentation

Before you apply for a loan, make sure to do your documentation correctly. The requirements tend to vary from organisation to organisation. Therefore, it is important to do your research before applying for a loan. Make sure to gather all your documents to strengthen your case, as otherwise they may advise you to involve your parents and get them to be a co-signer.

As a youngster, you may face some struggles in the beginning with your finances. Chances are that your loans will also be rejected until you can show you have a strong credit history. However, you shouldn’t give up and should keep trying until things work out.

To reduce your chances of rejection, do your due diligence, have the required documents prepared and improve your credit history. While there is no such way to ensure an approval, taking small yet significant steps can make a difference.