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National Banks Are Making Riskier Loans: 3 Precautions Business Owners Can Take Against Rogue Lenders
On June 25, 2014, the US Treasury Department, through the Office of the Comptroller of the Currency (“OCC”), issued a press release saying that banks nationwide are making riskier loans to compete with other banks. The OCC is charged with regulating and supervising...
The Safe Way to Consolidate a Chunk of Consumer Debt
Author: Kaitlin Funaro, MarketPlace Media We’ve all seen late night infomercials promising to lift us out of a mountain of crushing debt: It’ll only take a phone call. Just three minutes of your time. And you, too, could be debt free forever. You don’t need to consult...
When the Bank Demands Payment in Full: 3 Options for Borrowers with Matured Business Loans
There are three realistic options that a business owner should consider when their bank demands payment of the loan in full. Pay Off the Loan In a restrictive banking climate, refinancing sounds much easier than it really is. Banks infrequently rewrite their own...
“Keep Your Money!”
When Is It Acceptable to Forgo Payments to Your Creditor or Landlord? Credit card, loan and lease agreements contain terms that regulate the debtor / creditor or landlord / tenant relationship. Not surprisingly, a large portion of these contracts are dedicated to the...
Why Perform Bathroom Surgery?
I recently met two successful business partners in the real estate investment business. They were frustrated about a real estate transaction they had been involved in for a while. They proceeded to tell me how many hours they spent on doing the legal research that...
So House Flipping is Your Thing? Really.
Believe it or not, house flipping is back with the housing recovery. And while there’s money to be made from flipping houses, there’s also money to be made from selling things to would-be flippers. Flipping workshops are crowded again. House Flipping Workshops At a...
The Meaning of ‘Where is – As is’ in Real Estate
What Does "Where is-As is" Mean? “Where is-As is” is a real estate term whereby the property is being sold in its present condition. No “moving, cutting, shifting, replacing, redoing, changing, repairing, relocating, or refacing” anything related to the property. It...
Does Having More Money Make You Less Empathetic? Surprising Psychology Behind Money.
http://www.npr.org/programs/ted-radio-hour/295260995/the-money-paradox People who were shown a picture of their "future selves" tend to save more (by 20%) than those who are shown pictures of their current selves. Studies show that as a person's wealth increases,...
Tenant Pay History on Credit Reports?
Does your landlord report to the credit bureau? In today’s economy, it’s a universal truth: a good consumer credit score is one thing that most, if not all, people consider to be important. Or if they don’t, they certainly should. That’s because our individual credit...
Unlike Some Promises, These Guaranties Really Stick
When it comes to signing a loan contract—whether it be for real estate, a lease, car, boat or any type of service, most people will sign a contract with the intention of complying with its terms. In the event a borrower defaults on a loan agreement, one of the more...
Meet David Soble
DAVID SOBLE
Real Estate & Finance Attorney