Bankruptcy, a legal process that offers relief to individuals and businesses overwhelmed by debt, can dramatically impact one’s most treasured assets. One of the primary concerns for many contemplating this financial path is the fate of their homes. Delving into the nuances of bankruptcy and its effects on homeownership can provide clarity for those navigating these choppy financial waters.
Chapter 7 Bankruptcy
Often referred to as “liquidation bankruptcy,” Chapter 7 involves selling a debtor’s assets that are non-exempt to pay back creditors.…
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Home purchase requires adequate preparation. Preparation will help you know what to buy, which processes to follow, and how to avoid regrets. Below are some tips to prepare you for the milestone.
Analyses Your Finances
Analyze your finances to understand your financial strength. For example, you should know:
The total debts you owe How much cash you can get, and how fast you can get it Your future income All these will affect your mortgage application and home purchase.…
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Purchasing a commercial property for your business is a big step, and you should approach the process with care to ensure you make a good choice. The most important thing is to avoid rushing into a purchase. As exciting as it may be to buy a property for your business, you should take your time and make the best choice possible.
Here are some things to consider when choosing the a commercial property for your business:…
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