Home Owners: How to Protect Yourself from a Personal Injury Suit

Home Owners: How to Protect Yourself from a Personal Injury Suit

Remember in Liar, Liar when Jim Carrey’s secretary irately recalls how her friend had a robber in her house who sued her friend because he fell on a table and injured himself?  It seems crazy that someone trespassing on your property could turn around and sue you for injuries they incurred while illegally on your property; but instances like this aren’t unheard of.  Whether you’re throwing a dinner party or have workmen in your home, you need to take the following steps to protect yourself from being involved in a personal injury suit.

  1. 1.     Know Your Obligations

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WHAT IS A SHORT SALE, AND WHO DOES IT BENEFIT?

What Is A Short Sale, and Who Does it Benefit?  A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property’s loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and owning a non-producing asset and poorer credit report outcomes for the borrowers.

A Short Sale is a win-win-win solution for the lender, the home owner, and the buyer: Read the rest of this entry »

9 FORECLOSURE ALTERNATIVES

9 Foreclosure Alternatives

although this site is geared towards investors, I will try to give sellers some help as well. Also, understanding what the seller’s options are can benefit both the seller and the buyer, especially the investment buyer. Home owners who finds themselves upside down (they owe more on their house than the house can be sold for) may be facing foreclosure… so what are their options?!? They need to look at the situation more from a financial perspective rather than an emotional perspective. This way they can more successfully analyze which option might best suit their needs and desires to move them towards resolving their financial difficulty. One very important thing to remember: Time is of the essence. they need to take the time to think through their situation and make a decision. Then, take action right away so that they have enough time to complete the solution they choose.

There are nine Options When Facing Foreclosure. Read the rest of this entry »