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If you had $100K in equity, a BK would not be a viable solution because the bankruptcy trustee would sell your home and use the equity amount above your state limit to pay off your creditors (you ...
“Renting your property without putting the rules and expectations of the tenancy in writing is an invitation for trouble,” writes attorney Ann O’Connell, a legal editor at Nolo, a publisher ...
The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust".
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
Nolo, formerly known as Nolo Press, is a publisher in Berkeley, California, that produces do-it-yourself legal books and software that allows people to handle simple legal matters such as making wills or writing business partnership contracts. [4]
If you stand to make a large profit on your home sale, you’ll want to think about one more thing before you sell: capital gains taxes. Residential real estate counts as a taxable asset, just ...
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